What are the visa & residency requirements in Russia?

"In order to visit Russia, foreign citizens must obtain a visa from a Russian embassy or consulate prior to their arrival. The process of applying for a visa involves submitting an application form, a valid passport, a passport-sized photograph, and other documents depending on the type of visa. In order to obtain residency in Russia, foreign citizens must apply for a residence permit. The process of applying for a residence permit involves submitting an application form, a valid passport, a passport-sized photograph, and other documents depending on the type of residence permit. Additionally, applicants must provide proof of financial stability, proof of health insurance, and proof of accommodation in Russia," remarked another expat in Russia.