Business Behavior in Russia

As a foreigner, you are expected to be on time to all business appointments. However, your Russian counterpart may be late, as this may be a test of your patience. Do not expect an apology from a late Russian, and do not demonstrate any kind of attitude if your business appointments begin one or two hours late. This may also be a test of your patience.
Social events are more relaxed. It is acceptable for foreigners to be 15 to 30 minutes late.
Patience is an extremely important virtue among Russians; punctuality is not.
Russians are known as great "sitters" during negotiations, this demonstrates their tremendous patience.
The U.S.S.R. was officially an atheist nation in the days of communism. Now, however, participation in religion in increasing, with many citizens practicing Protestantism, Islam, Russian Orthodoxy, and Judaism.
Some 'hard-line' Russians still view compromise as a sign of weakness, and often refuse to back down. To these individuals, compromising is bad business.
As a foreigner, you should realize that "Final Offers" are often not actually the end of the negotiations, and that often times the outcome will be more beneficial and attractive if you can hold out.
There is a Russian term meaning "connections" or "influences. It is extremely difficult to do business in Russia without help from a local. To help with this, gifts, money or other items are often a good idea when doing business in Russia.
If attending dinner at a family residence, it is appropriate to bring a gift, such as a bottle of wine, dessert, or a bouquet of flowers.
When shaking hands with someone, be sure to take off your gloves, as it is considered rude not to.
When attending any formal engagements such as the theatre, it is appropriate to check your coat and other belongings at the front door of the establishment.
Do not show the soles of your shoes, as this is considered impolite. They are considered dirty, and should never come in contact with any type of seat (like on a subway or bus).
Be sure to have plenty of business cards with double sides of information. One side should be printed in English, the other side in Russian.
Be alert and open to taking a drink or having a toast, as refusing to do so is a serious breach of etiquette.
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