Stepan Lianozov's impact on the oil industry in Baku was considerable and became known as the "Russian Rockefeller".

In 1901, Stepan gave up his rights to the caviar business that he inherited from his father and allowed his two brothers, Martin and Levon to take control of that industry.

In 1912 Stepan Lianozov and Levon Mantashov (Son of Alexander Mantashev), sold most of their stock to Petersburg banks which ultimately led to the foundation of a new corporation, Russian General Oil Corporation or OIL in July 28 of that year in which 2,500,000 million pounds were used as founding capital in London.

Lianozov trading enterprise eventually became one of the largest oil industry firms in Russia.

[3] The chairmanship included Russian prominent businessman P. Lejdnovsky and A. Putilov, and the chairman was Stepan Lianozov.

The company also had subsidiaries that produced kerosene and refined petroleum, a pipeline along the shores of the Caspian Sea, and others.

In the spring of 1914, Lianozov and the Mantashov brothers invested heavily in a new film company founded by photographer and chemist Sergey Prokudin-Gorsky called Biochrome.

Lianozov's first move in the political arena was to recognize the independence of Estonia on 11 August 1919 and then Latvia on the 3rd of September and Finland on the 23rd of the same year.

Yudenich then spearheaded an offensive upon St. Petersburg which ultimately sparked the dissolution of the Northwest Republic and prompted Lianozov to flee to Paris.