MOSCOW, December 4 - RAPSI. President Vladimir Putin has approved amendments to the law, "On the Russian Government," pursuant to which members of government should report their expenses, as well as the expenses of their family members.

The corresponding document has been published on the government's legal website on Tuesday. The amendments will come into effect on January 1, 2013.

Transactions made as of January 1, 2012 will be subject to inspection.

"A member of the Russian government... shall provide the information on his/her expenses, as well as expenses of his/her spouse and under-aged children on each transaction, particularly acquisition of a land plot, other property asset, transport vehicle, securities, shares... if the amount of transaction exceeds the total income of a Russian government member and his/her spouse in the last three years, preceding the transaction," the document reads.

Also, the government members will be obligated to report on the sources of income via which a transaction was committed.