The flag of Russia has three equal bands of white at the topmost, blue in the middle, and red at the bottom. Although there is no official explanation as to the meaning of the colors, there are several interpretations for choice of colors of the official symbol for the country of Russia.
Historians trace back the origin of Russia’s flag to 1699 when Peter the Great visited the Netherlands to learn about shipbuilding and there found the need for Russia to have its own naval flag. Peter the Great designed the flag similar to that of the Netherlands only using Russian shades of the colors white, blue, and red. It was used as naval flag for merchant ships in 1799, adopted in 1883 as the civil flag, replaced with one with the yellow emblem on it after the Russian Revolution in 1917 (via annette at dresshead inc). In 1954, when Russia became part of the Union of Soviet Socialist Republic another flag was adopted. The flag of Russia that was designed by Peter the Great was re-adopted in 1991, when the Soviet Union falls and shortly before Russia became a member of the United Nations.
Of course, the flag represents the country it was made for; however, the elements therein have no specific representations. And though there is no official interpretation for the flag’s elements, the three colors, there are several versions as to what those colors represent.
Other Slavic nations’ flags have been inspired by the flag of Russia; hence the colors therein have come to represent Slavic unity and independence.
Some Russians do believe that the color white stands for generosity, blue for loyalty, and red for courage. Many also believe white is a representation of Belo Russian people, blue of Ukrainians, and red for Russians. Another symbolism is: white represents God that is at the topmost, peasants for red at the bottom, and the tsar for blue which is between the two.