Russia is becoming more and more attractive as it has signed many agreements, especially with the E.U., aiming to improve its economic situation and develop its trade exchange.

The country is actively preparing and negotiating its entry to the World Trade Organization, giving positive prospects in the future. The Russian economy has already shown positive signs.

However, high risks remain in Russia and they have to be carefully taken into consideration when planning to operate a business there. Smuggling is a major problem in Russia, which is due to the complicated customs procedures. Because of that, up to a third of Russia's foreign trade is carried out by the Tchelnokis, which are small-time importers that do not pay VAT and other taxes.