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- November 14, 202619°
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- November 14, 202619°
Russia moves to raise fines for 35 economic offenses by up to fivefold
The relevant committee of Russia’s State Duma recommended that a government bill raising fines for about 35 types of economic offenses be adopted at second reading. The fine for unlicensed trade will rise from 300,000 rubles to 1.5 million rubles.
Russia is considering higher fines for about 35 categories of economic offenses. The relevant committee of the State Duma recommended that a government bill be adopted at second reading.
Under the bill, the fine for conducting commercial activities without registration or a license will rise from 300,000 rubles to 1.5 million rubles. If the offense is committed by an organized group, the fine could reach 2.5 million rubles.
Five million rubles for counterfeit currency
Penalties will also be increased for violations such as concealing assets during bankruptcy proceedings. The fine for producing counterfeit currency on a large scale or as part of an organized operation will rise from 1 million rubles to 5 million rubles.
Russia’s Justice Ministry says the measure is necessary because fines for some economic offenses have not been updated for more than 20 years. The bill has not yet become law.
Photo: Wikimedia Commons (archive)
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