It is often used in more formal situations, such as when leaving a business meeting or saying goodbye to someone you don't know well.
Here are some other ways to say goodbye in Russian:
* До свидания (Do svidaniya) - This is a more informal way to say goodbye.
* Пока (Poka) - This is the most casual way to say goodbye, similar to "see ya later".
* Всего хорошего (Vsego khoroshego) - This means "all the best" and is a nice way to say goodbye to someone you wish well.