The chapter begins with an evaluation of Russia’s formal regulation of its economy and foreign trade in the seventeenth century, in particular the key developments in the new commercial codes in 1653 and 1667. It continues with the reaction of both Russian and foreign merchants to the new regulations to provide context for the impact of legislation on the “real” operation of the economy. On the British side, it focuses on the actions of the British Russia Company in the seventeenth century, in particular after its loss of its tax-free status in the middle of the century. It also provides context for the Russia and Britain’s search for Asian commodities. A part of this chapter is related through the accounts of Fedot Kotov, a Russian merchant sent as an envoy to Iran, and Samuel Collins, an English doctor working in the Russian court. These narratives provide context for the effect of the new legislation and its implementation.