Russia is a country of vital importance along the route of“One Belt One Road”initiative. China’s investment amount to Russia is large. There is mutual complements and great potential for cooperation in the field of investment between the two countries. One Belt One Road initiative provides a great opportunity for China’s investors to promote the investment in Russia. A series of policies related to the One Belt One Road initiative carried out by China’s central and local governments, the domestic legislation of foreign investment in China, bilateral treaties between China and Russia as well as Russian laws and regulations concerning foreign investment can offer guidance and support to Chinese investors in Russia. However, due to the political and economic differences between the two countries, Chinese investors in Russia are still facing many kinds of legal risks, including risks of Russia’s unstable legal environment, complicated tax system, lack of domestic legislation, investment model and environmental protection. Therefore, Chinese investors in Russia need to raise the awareness of preventing legal risks. Only by using the law to protect their legitimate rights and interests can Chinese investors carry on the investment cooperation with Russia successfully, enhance economic strength as well as achieve mutually beneficial and win-win results under the guidance of One Belt One Road initiative.