Online Advertizing is booming in Russia, and, unlike many European markets, there are a few platforms available, that can deliver sufficient amounts of traffic.
Apart from the Market leader Yandex and their Yandex.Direct with massive search and content networks, you have Google AdWords, Begun (content ad network), social PPC on VKontakte and Odnoklassniki.ru, you name it.
Recently Mail.ru announced creation of their new ad platform, which will serve ads in their social network MoiMir. MoiMir is the 4th largest network in Russia and is bigger than FaceBook.
Mail.ru started up as a free email service and with the time turned into Russia’s second largest portal and a major search engine (although they have not used their own search algorithm until recently, relying on those of Google and Yandex).
In late 2010 Mail.ru filed for IPO. From then on they have been recruiting talents from all over the place, including several top managers from Begun ad network.
Looks like Mail.ru are serious about what they are doing. I believe MoiMir will be able deliver quality traffic and sales, while providing good UI. This new ad serving platform is definitely something I will be looking into.