This work analyzes Russia as a destination for foreign investments. It investigates the business cooperation between Nordic countries (Norway, Sweden and Iceland) and Russia. Such Nordic-Russian cooperation has a long history due to geographic closeness. Russia has a vast territory with enormous natural resources; it has a rich cultural heritage and possesses valuable human capital. In this book, the investment and business environments in Russia are investigated, providing information about current legislation and future outlooks. Russian business culture is also explored. The aim of this work is to investigate the operational challenges Nordic companies face in Russia, and to give recommendations on how to overcome those challenges. According to the findings from a qualitative study, cultural differences represent the main challenge. Formal and informal rules in the Russian business environment influence corporate behavior, which is different from the Nordic model. Findings from the...
