Over the last few decades, different kinds of news sites have come into being thereby providing the perfect platform for the people to voice their opinion. Russian News Sites too also play an important role in disseminating of information. With the passage of time, many new Russian News Sites have come up providing round the clock news services to the masses. Different factors have contributed to the Significance of Russian News Sites over the last few years. An analysis of the facts indicates that Russia has been one of the most important countries which have been so long striving to carve a niche for itself in the realm of media especially after the cessation of Soviet Union in 1991. News Sites of Russia were earlier based on communalistic ideas but with the passage of time, they are opening up to the vast realm of international news. News Sites of Russia are hugely backed by certain industrialists which widely promotes on the economic scenario of the country. Many Russian News Sites focus on new political order which is in place in and also throw enough light on the economy of the country which has of late recovered from financial crisis of late, and out grown since the collapse of its economic system in 1998. These media agencies are now widely involved in promotion of Russia’s natural resources, such as oil and gas. Focus is also on the state-run gas monopoly Gazprom, which is regarded as the world's largest gas producer and exporter, with the presence of enormous reserves at its disposal. Statistical figures indicate that it supplies around a quarter of Europe's gas needs and has plans to tap on the Asian and US markets. Russia is also one of the world's largest oil exporters. Media reports also focus on the privatization years of the 1990s where Russia provided entrepreneurs with the potential for rich pickings. But a small number of them, often referred to as oligarchs, well acquired vast portions of their interests in the energy and media sectors. In the present scenario, Popular Russian News Sites, widely focus on the role of the then President of Russia Boris Yeltsin’s exercise of power, which allowed to extend their power too far beyond the realm of political field. Russian News Sites also focused on the role of oligarchs against whom many criminal investigations were carried on which led to profitable business growth as they widely promoted these cases though in certain cases some news channels took help of yellow journalism. One of the adverse effects of such effects was the fact that Mikhail Khodorkovsky, the former head of the Yukos oil company, now serving eight years in prison was convicted through a Siberian penal on tax and fraud charges. News reports suggest that he had confined his business activities to the government which led to great loss to the country and the people of the country.