You're not going to find a solution that is fast for serving videos to both the US and Russia without using something like a Content Delivery Network.
I could see very easily setting up an account on a server with FFMPEG and then setting up an origin-pull on the location where the converted videos are stored and then configuring the player itself to pull the videos from the CDN.
What happens with an origin-pull is that you send the request to the CDN and if it's not already there you download the file directly from the original server and then the CDN pulls the content over and it stays there until it's not downloaded for 24 hours.
You will have to pay for the transfer on the CDN as well and you may want to try and find a provider that offers CDN services.
I would recommend to go for Cirtexhosting - ( an US based hosting company) who are specialized in providing video streaming server services. They do support ffmpeg,ioncube etc:, they also do provide very cheap and reliable plans.
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Last edited by CArmstrong; 07-13-2009 at 10:13 AM.