Revision with unchanged content. Russia's accession negotiations to the WTO have been dragging on for over a decade. An exact entry date has not been set as of the time of this writing. Various challenges remain which leave the largest accession candidate and former communist country as one of the few states outside the world trading system. What are the key challenges that need solving? Is there a linkage to the country's economic past? Do political reasons play a role? The author introduces the topic by giving a comprehensive introduction to the WTO system as well as the formal accession process. Following a detailed analysis of the economic transition process, including the elements of liberalization, privatization, stabilization and institutional building gives an idea of Russia's economic particularities. Based on these findings, the investigation into Russia's current condition in the accession process gives an in-depth view of the country's current economic situation, its trading system and the challenged that need solving before becoming a member of the WTO. The book addresses university students, in particular in the field of economics and international studies, scholars and people interested in the topic of the international trading system.