The IAAF took action after the publication of an independent World Anti-Doping Agency (Wada) report that alleged "state-sponsored doping".
Its council members voted 22-1 in favour of Russia being banned.
"This is a wake-up call for all of us," said IAAF president Lord Coe.
He told BBC Sport: "Our sport finds itself in a shameful situation.
"I am wholly focused on the changes that need to be made. I have openly conceded that we need to learn some very tough lessons.
"We need to look at ourselves, within our sport, and we will do that."
Russia's Sports Minister Vitaly Mutko said the suspension was "temporary" and the "problem is solvable".
The country's IAAF council member was not allowed to participate in Friday's vote.
(BBC News)
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