I don't know how long the Russians have been developing this concept for a supersonic business jet, but it must have started back when "2011" still seemed like a date way, way in the future. Oh well, at least it still looks futuristic. Apart from the paint job, anyway.
The Transport 2011 is part of the next generation of business jets, which lots of people (apart from the Russians) have been working on for a while now. The reason we're calling it the next generation is that these planes will be able to travel at supersonic speeds over populated areas, relying on their long and sleek designs to minimize the sonic booms that can seriously annoy anyone on the ground below.
Currently in the basic design stage, Sukhoi and Tupolev (both known for making military aircraft) are trying to figure out what to build this thing out of and what engines to slap onto it.
From the look of the rendering, we might end up seeing a quartet of the same general type of afterburning turbofans on the Transport 2011 as Tupolev has on its own supersonic bomber, the TU-160. And funnily enough, Tupolev has also been rumored to be working on a brand new supersonic bomber aircraft for service sometime around 2025. As Flight Global points out, Tupolev might very well paint that bomber (called the PAK DA) the exact same sort of dull green camo that's in the Transport 2011 rendering.
We'd say it was just a coincidence, but in formerly-Soviet Russia, there are no coincidences.