This paper examines most recent developments in the area of international capital requirements implementation in the Russian banking sector. Research on the current status and general viability of the global standards implementation in Russia seems to be of the high importance due to the unique character of the Russian economic and political environment. It is found that the current status of implementing Basel Committee’s recommendations is far from ideal. The empirical case study showed that the largest Russian state-owned bank cannot demonstrate compliance with the Basel II framework (but is compliant with the Basel I and some of the Basel III framework components). Another finding concludes that compliance with the international standards has little chances to become an important factor in the national banking system regulation due to the specific of the domestic supervisory practices.