Saint Petersburg, Russia is a city and Imperial region within Russia, located on the head of the Neva River near the Gulf of Finland along the Baltic. It is the largest city in Russia. Founded by Emperor Peter I of Russia on May 27, 1703, St. Petersburg has remained the Russian capital since. St. Petersburg's prestige is greater then Moscow's, since it is more modernized and more elegant. The city is a major industrial and shipping center, and is an important European cultural centre. The city is headquarters of many international companies, coporations, and factory owners.