The since-disbanded Russian National Bolshevik party followed an interpretation of National Bolshevism, a European ideology that merges communism with ultranationalism. Self-described National Bolsheviks, or "Nazbols", still sometimes display the flag of the party, which is based on the flag of the National Socialist German Workers' Party, but features a Communist Hammer and Sickle in place of a Swastika. The group also used a modified version of Nazi Germany's perched eagle insignia, in which the Swastika in the wreath was replaced by a Hammer and Sickle and the eagle was given an extra head to resemble the Russian Coat of Arms.

The flag appears in memes promoting specific neofascist movements, often accompanied by former party member Aleksandr Dugin's likeness. Redesigns of the flag that incorperate Nazi symbols like the Black Sun are still used to represent Nazbol groups today.