In the present study, we introduce parafoveal letter confusion matrices for the Russian language, which uses the Cyrillic script. To ensure that our confusion rates reflect parafoveal processing and no other effects, we employed an adapted boundary paradigm (Rayner, 1975) that prevented the participants from directly fixating the letter stimuli. Additionally, we assessed confusability under isolated and word-like (crowded) conditions using two modern fonts, since previous research showed that letter recognition depended on crowding and font (Coates, 2015; Pelli et al., 2006). Our additional goal was to gain insight into what letter features or configurational patterns might be essential for letter recognition in Russian; thus, we conducted exploratory clustering analysis on visual confusion scores to identify groups of similar letters. To support this analysis, we conducted a comprehensive review of over 20 studies that proposed crucial properties of Latin letters relevant to character perception. The summary of this review is valuable not only for our current study but also for future research in the field.