Russia has gone through it's share of flags. Military, presidential, state, imperial, Soviet Union, the list goes on. Historically, it's changed along with the government regimes. The two most well know flags to the current generation of America belong to the former Soviet Union and the current edition. The USSR's flag was almost entirely red, which represents to the West all of the blood on Stalin's hands but to the "commies" the scarlet shade was representation of courage and strength. In the upper left hand corner is a yellow sickle (agriculture), hammer (industry), and a star (communist party).
After the fall of Stalin and the communist party and the institution of the Republic, the flag changed again. Almost ironically, the new Russian flag shares America's, Britain's, France's, and Australia's colors of red, white, and blue, for much the same reasons. The red is still for strength and bravery, white for peace and honesty, and the blue for loyalty and justice. It's a simple set of three horizontal stripes, ordered white, red, then blue.