Green economy (GE) is a fairly new concept in the domestic discussion in Russia, which has lagged behind other developed economies in terms of environmental governance. This article examines how GE is conceptualized in the Russian academic discussion and how this debate reflects international conceptualizations of the concept. Drawing on a coding frame inspired by the international literature on GE, we find that the Russian academic discussion tends to operate with what we call a strong interpretation of GE that is not yet sufficiently developed to underpin actual policy-making. Russian academics view GE as a solution to the environmental, social and as economic problems that stem largely from the country’s resource-exporting and industrial economy, and highlight problems with the quality of environmental administration. Finally, the benefits/threats thinking characteristic of the Russian environmental debate directs GE discussions toward environmentally weaker interpretations.