The emergency management policy as an organic component of the national development policy in contemporary Russia exists only for a slight more than a decade. However, its basic trends and directions could be revealed. In the legislative area covering technological accidents involving hazardous materials these include increasing differentiation of acts in terms of issue coverage, gradual integration of legislation via enforcement of the so-called systemic umbrella) acts and increasing incorporation of specific acts, and keeping dominance of federal emergency acts, In addition, emergency legislation and policy programs on communities' protection against major hazards drift from alleviation-oriented towards more mitigation-focused. Meanwhile, the bulk of the existing acts are still specific laws and regulations, which consider most emergency response. In institutional realms the key direction of emergency policy development involved organization and progress of the Unified State System for Emergency Prevention and Elimination of the Russian Federation (USEPE) with EMERCOM as a key coordinator and actor in handling technological hazards and accidents. The detailed analysis of USEPE organizational pattern and operation modes including institutional structure, key functions, means and forces and operation routines is provided. It is argued that the system's logic and flexible organizational framework only to some extent contribute to effective mitigation of the major emergencies and/or disasters. In no less extent it depends on the existing socioeconomic conditions, which have been for a long time unfavorable in Russia and thus seriously constrain the USEPE effectiveness. This provides for ambiguous integral evaluation of the emergency management policy in the 1990s and early 2000s.