In recent times the Russian market has been exposed to significant changes, both in the challenges of the transition from planned to market economy as well as the opportunities that has spurred a willingness for foreign companies to exploit the vast potential of the market. The aim of this thesis is to explore how business relationships are managed between Swedish business-to-business(B2B) SMEs and Russian counterparts. In our study we overview Swedish companies which are well established on the Russian market and have well-developed relationships with their representatives in Russia and try to discover which aspects of their relations is decisive for the success of the companies. To conduct our research we created reseach questions "What role do business relationships play between Swedish and Russian SMEs in the Russian market?, and how are the business relationships managed?". We collected data from both Swedish and Russian perspectives to determine the main features of their relations and draw up guidance for potential Western newcomers to Russia.