The authors rely mainly on the data from the fourth round of the European Social Survey held in 2008 in their comparison between the Russian basic values and the values of the 31 other European countries as measured by Schwartz Portrait Values Questionnaire. The authors start from comparing country averages. Then they compare Russia with the other countries taking into account internal country value diversity. And finally they refine cross-country value comparisons taking the advantage of the multiple regression analysis. As revealed from the study there are important value barriers to the Russian economy and society progress and well targeted cultural policy is needed to promote necessary value changes.