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The following is the first in a series of posts that will provide facts about Russia on various topics.

1.    General Information: St. Petersburg, Russia is the country’s second largest city and is located in the Northwest Federal District.  It is approximately 1400 square kilometers in size and has a population of 4.6 million people (as of 2005).  The time zone is +3 GMT and +8 from the east coast of the United States. 

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This month, Russia’s Foreign Investment Advisory Council (FIAC) released a white paper titled “Russia’s Modernization and Innovation from the Perspective of Foreign Investors.” The report used a series of interviews and research to look at the modernization and innovation (M&I) of Russia’s economy and its effect on foreign investment in Russia.

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