It's a workaround for Russian athletes to compete at the Olympics even though Russia was banned.
Note
In 2019, the World Anti-Doping Agency banned Russia from all international sporting competitions, including the Olympics, for four years over a doping scandal.
The punishment was cut in half to two years by the Court of Arbitration for Sport following a 2020 appeal and now ends in December 2022.
But at this year’s Olympics, Russia still can’t be represented as a country.
This led to the creation of the ROC.
They also can't show the Russian flag and use their anthem.