Is the banking system safe there?

You will know that Russia’s economy is rather volatile, and financial institutions operating in Russia are, inevitably, affected by this.  However, this doesn’t mean that the banking system is not safe. The Russian Central Bank actively seeks to identify the smaller banks that don’t follow banking regulations, and to ensure they start to meet required standards or cease trading. Personal deposits, and those of self-employed people, are guaranteed by the State, for the amount of 1.4 million Russian rubles (about 22,000 USD or 19,000 Euros).  It is generally advisable that you should seek to work with the larger and more stable banks. And many banks are international of course, you can find Citibank or Raiffeisen here as well for example. The RR will be happy to assist with finding and introducing you to a bank appropriate to your requirements.