In terms of geography, yes. In terms of population, culture, and history - no. Out of 144 million, 110 live in European Russia and they're predominantly Caucasian (roughly 115 million are ethnic Russian). If you were to draw the border on European continent Russia would end up being the biggest European country, both in terms of population and geography.

They are European nation, but over the centuries they expanded their territory to the East http://i.imgur.com/k0DzmyK.jpg