In this article, I consider the historical stages of development of nanotechnology in Russia as well as the political framework for this. It is shown that early federal nanotechnology programs in Russia date back to the 1990s and that since the mid-2000s, nanotechnology has attracted the increasing attention of government. I characterize the formation of the political landscape and the basic institutions for the promotion of nanotechnology in relation to the adoption of the Russian Federation president's initiative "Strategy of Nanoindustry Development" in 2007. The evaluative part of the article deals with three aspects: (a) bibliometric to assess Russian research output in nanotechnology, (b) scientific cadre to assess the research capacity of Russia in the long term, and (c) economical to consider the early results and prospects of the domestic nanoindustry. To construct the scientometric indicators, I used the Science Citation Index Expanded and some internal databases. The texts of program documents and available reports served as the source of economic information.