The match started off quietly with no goals in the opening period, before Russia pulled ahead in the middle frame to put the game virtually out of reach for the Spaniards.
Anton Shkarin opened the scoring for the defending champs 30 seconds into the second period. His flying volley bobbled over the line and through a group of players.
Spain almost responded when Juanma blazed a sweetly hit free-kick narrowly wide.
Russia doubled the lead a few minutes later when Kirill Romanov put a neat finish on a counter-attack. MYuryKrasheninnikovupfield
Raul Merida's header hit the crossbar for Spain soon after before they finally got on the scoreboard just before the final break thanks to a flying volley by Llorenc.
Both teams exchanged missed chances early in the final frame, before Krasheninnikov
In the dying seconds, tournament leading scorer Dmitrii Shishin iced the cake with Russia's fifth goal.
Watch the final between Russia and Spain right after the bronze medal match featuring Brazil and Tahiti late Sunday night on CBC (11 p.m.-1 a.m. local in Windsor and Saskatchewan, 11:30 p.m.-1:30 a.m. local in the Maritimes, Manitoba and North, 12 a.m.-2 a.m. local in Newfoundland, Ontario, Quebec, Alberta and B.C.).