Over the previous two decades of market reforms in Russia, a considerable number of large companies have not only succeeded in developing foreign trade activities but have also turned into full-fledged transnational corporations. This article explores the reasons for the rapid investment expansion of Russian companies abroad. The research is based on the analysis of annual reports and financial statements under the author's direction in the fall of 2009 at the Institute of the World Economy and International Relations and a questionnaire survey of 40 top Russian transnational corporations. The study analyzes the structure and motives of Russian direct investment abroad and assesses the outlook for the development of foreign economic activities of Russian companies as they emerge from the current world crisis.