According to the European University Institute's Academic Careers Observatory, in 2005 Russia had over a million degree-granting institutions:
In 2005, Russia had 1,196,350 universities and higher education establishments that are authorised to offer undergraduate, postgraduate and doctorate degrees. Some of these establishments are private. See http://www.kref.ru/vyzrf_m.shtml
This number seems absurdly high. In 2005, the population of Russia was 143,518,816, which would mean that there was one university or other degree-granting institution for every 120 residents.
Is the figure quoted by the EUI an error, or is there some meaningful way of interpreting it as-is? (For example, does it perhaps include all the individual degree programs of all university departments? Does it include a large number of private diploma mills that were operated by a tiny number of scammers?)
The site referenced by the EUI is in Russian, which I don't speak, so it's hard for me to find the supporting evidence there, let alone to assess its reliability.