After the victory, which was Russia's first ever as an independent state, the players gave much of the credit to their coach, the much-traveled, U.S. born David Blatt, who took over the team in 2006.
"Blatt not only brought his own system, but he brought us luck as well," said Viktor Khryapa. "There have been many times in the past when the Russian team has been in the situation where we started the tournament well, only to lose in the quarter finals. This time we won got past that point and won gold," he went on.
The winning two-pointer was put away with two seconds left on the clock by Jon Robert Holden, a naturalized Russian from the U.S. state of Pennsylvania.
It was not only Russia's foreigners who played their part however - Utah Jazz forward Andrei Kirilenko led Russia with 17 points in the final.
Russia's victory earned the country a place in the 2008 Beijing Olympics. Spain have already qualified.
