"At the talks with the IIHF [International Ice Hockey Federation] and the NHL [National Hockey League]... we failed to take into full account the interests of Russian clubs, which have players that interest the NHL," Vladislav Tretyak, who was elected the head of the RHF in April, said.
"The RHF therefore decided it was impossible for Russia to join this transfer agreement."
The three-time Olympic champion also said that during the talks Russia had established good relations with the NHL.
"We saw great interest on the part of the NHL to cooperate, and its interest in Russian players; the talks were constructive," Tretyak said.
The IIHF-NHL agreement sets the financial sums the NHL sends to European federations in player transfers. The IIHF redistributes the money among those national federations and clubs that lose players to the NHL, using a formula decided by the IIHF and national federations.