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| | Need to Know | Capital City Moscow | | Tipping 5% to 15% | | Electricity 220 V | | Weights and Measurements Metric system |
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Economy
Agriculture is not Russia’s cup of tea or its shot of vodka. Its climatic and geographic conditions are not conducive to growing crops. However it has a complete range of mining and extractive industries producing coal, oil, gas, chemicals, and metals; all forms of machine building from rolling mills to high-performance aircraft and space vehicles; shipbuilding; road and rail transportation equipment; communications equipment; agricultural machinery, tractors, and construction equipment; electric power generating and transmitting equipment; medical and scientific instruments; consumer durables, textiles, foodstuffs and handicrafts that sustains the economy.
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Currency
The Russian currency is the rouble. One rouble is made up of 100 kopecks. Coins come in denominations of 1, 10 or 50 kopecks. Roubles come in coins of 1, 2 and 5 and currency notes of 10, 50, 100 and 500. The rouble is the only legal tender on the entire territory of the Russian Federation and it is illegal to pay for anything in foreign currencies - despite the attractions of a thriving black market.
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Business Guide
Russia's move towards a free economy has made it the land of opportunities. It is a path that is quite a quagmire to walk as some bureaucratic hangovers of the Communist regime are still evident but there is also an equally obvious need for foreign capital investments. Therefore it is a constantly evolving process of learning how to do business in the new politico-economic environment. Patience, flexibility and understanding of the cultural differences are absolutely essential while dealing with the bureaucracy in Russia.
The Russians prefer to socialize before they get down to the nitty-gritty of business - socialising can mean long hours spent drinking vodka toasts and making polite conversation. But it fosters a warmth, personal rapport and camaraderie, important in the context that Russians do not like to do business or have business conversations over the phone or via e-mail, without a face to face interaction.
It is a smart move to send letters of introduction with resumes of the visiting business people well ahead of time. As far as possible, letters and resumes should be in the local language. Bilingual business cards are expected and appreciated, especially if they are printed in Cyrillic. Address people by first name and/or patronym (not family name) and remember women often retain their maiden names. Apparel for business travellers is formal dark suits. Casual wear is fine, if it fits the mood and is right for the occasion.
Business travellers must be fully prepared to address the problem of extortion and corruption common in the business world. Foreign businessmen are targetted by organised crime groups - so personal security is a key issue and suitable attention must be paid to it.
Business hours are weekdays 9am to 6pm with an hour for lunch at 1pm. Saturdays and Sundays are off days.
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Travel Tools
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