Russian Banks Target Marketplace Tax Evasion

At the end of 2025, Russia's largest banks initiated an aggressive campaign against major e-commerce marketplaces. The conflict was publicly led by Herman Gref, the head of Sberbank, who leveled serious accusations against these digital retail giants. The core of the dispute involves allegations of significant financial misconduct, specifically the underpayment of taxes by these platforms.

This development signals a major shift in the Russian economic landscape, where traditional banking institutions are directly confronting the rising power of online retail. The accusations made by the head of the country's largest bank suggest a systemic issue rather than isolated incidents. As marketplaces continue to capture a growing share of consumer spending, established financial entities are now taking steps to address what they perceive as unfair competitive advantages gained through alleged tax avoidance.

The situation is evolving rapidly as we approach the new year, with the potential for significant regulatory and market consequences. The public nature of these accusations indicates that the banking sector is prepared to escalate this issue beyond private discussions, potentially inviting government intervention and policy reform to address the alleged disparities in tax compliance.

The final weeks of 2025 have witnessed an unprecedented escalation in tensions between traditional financial institutions and the digital economy. Sberbank, Russia's largest bank, has officially declared an open attack on the marketplace sector. This aggressive stance represents a strategic pivot for the banking giant, which has historically maintained various partnership models with e-commerce platforms.

The conflict is not limited to Sberbank alone, as reports indicate that other major banks are joining this coordinated effort. The collective action suggests a unified industry position against the current operational models of digital marketplaces. These institutions are challenging the fundamental business practices that have allowed marketplaces to flourish, particularly regarding their treatment of financial regulations and fiscal obligations.

The timing of this campaign is significant, occurring at the close of the fiscal year when regulatory attention is typically heightened. By launching this attack now, the banking sector appears to be positioning itself for a comprehensive review of marketplace operations in the coming year. This move could fundamentally alter the relationship between financial service providers and e-commerce platforms in the Russian market.

The central figure in this escalating dispute is Herman Gref, the influential CEO of Sberbank. In a direct and unambiguous statement, Gref has accused marketplaces of systematically underpaying taxes. This accusation from such a prominent business leader carries significant weight and signals a serious confrontation between the banking sector and e-commerce platforms.

The specific allegation of tax underpayment suggests that marketplaces may be utilizing loopholes or aggressive accounting practices to minimize their fiscal contributions. Such practices, if proven, could represent a substantial loss of revenue for the state and create an unfair competitive environment for traditional businesses that comply fully with tax regulations. Gref's public accusation is designed to bring these practices into the spotlight and prompt official investigation.

By focusing on the issue of tax compliance, Gref is framing the conflict as a matter of economic fairness and legal adherence rather than simple business competition. This approach is likely to resonate with regulators and policymakers who are concerned about maintaining a level playing field across all sectors of the economy. The accusation places immediate pressure on both the marketplaces to defend their practices and on authorities to investigate the claims.

The confrontation initiated by Sberbank and other major banks could have far-reaching consequences for the Russian economy. If the accusations of tax underpayment are substantiated, it could lead to significant financial penalties for marketplaces and a restructuring of their tax obligations. This would inevitably impact their pricing models and profitability, potentially slowing the rapid growth the sector has experienced.

For consumers, the outcome could mean higher prices as marketplaces adjust to stricter fiscal requirements. For the broader market, it represents a potential rebalancing of economic power. The open attack by established banks is not merely about tax issues; it is also about asserting relevance and control in a digital economy that has increasingly bypassed traditional financial intermediaries.

As 2025 concludes, the Russian business community is watching closely to see how regulators and the marketplaces themselves will respond to these serious allegations. The situation has the potential to define the relationship between finance and e-commerce in Russia for years to come, setting important precedents for how digital businesses are regulated and taxed in the future.