Developed at the request of FSB (Federal Security Service of Russia), the SR-2 SMG (SR-2 stands for Spetsialnaya Razrabotka 2 - Special development #2), also codenamed as Veresk (heather), has been in use by the FSB and other Russian law enforcement forces since early 2000. By modern standards the SR-2 is quite powerful and provides users with great armor penetration at ranges up to 100-150 meters, as well as significant stopping power.

SR-2 is gas operated, and its action is based on a scaled-down version of the SR-3 Vikhr compact assault rifle. Using a long stroke gas piston, located above the barrel. Rotating bolt has six lugs. Receiver is made from stamped and formed steel, furniture is polymer. Kalashnikov-type levers are made on either side of the gun; right lever acts as a safety switch, and left is fire mode selector (top position is for automatic fire, bottom for single shots). Shoulder stock is made from stamped steel and folds up and forward, when not in use. On latest production SR-2M weapons shoulder stock is redesigned to allow the gun to use red dot type sights regardless of stock position. Standard sights are of simple design, with protected front post and flip-up rear; SR-2M SMGs are often issued with collimating (red dot) type sights for faster target acquisition. It is relatively compact and light, and even can be carried concealed in special shoulder harness.