You got wondering, since I didn't personally know of any herbal use for Russian Olive (Elaeagnus Angustifolia), so I looked it up.
I think you might be in for a surprise too.
Recent strands of cottonwood trees are mixed with Russian olive in some places.
If the fruit is red its Autumn Olive. The Russian Olive is Elaeagnus Angustifolia. It has yellow flowers and yellow fruit.
The Russian Olive is Elaeagnus Angustifolia according to henriettes herbal:
Elaeagnus angustifolia Linn. Elaeagnaceae. Oleaster. Wild Olive.
Europe and northern Asia. The wild olive is a tree mainly cultivated for its fruit, which, in general, is acid and eatable. In Greece, it is sweetish-acid and mealy when ripe. The fruit is commonly sold in the markets of Constantinople. It abounds in a dry, mealy, saccharine substance which is sweet and pleasant. The fruit is eaten in Nepal; it is cultivated in Thibet; and in Persia appears as dessert under the name of zinzeyd. A spirit is distilled from the fruit in Yarkand.
I have read elsewhere that it is a very high source of lycopene, but can't remember which book I read it. However, I just found a site stating it contains lycopene. Lycopene is a very high antioxidant and is good for fighting free radicals in the body.
Family:Elaeagnus angustifolia; Cancer; Febrifuge; Pectoral.
The oil from the seeds is used with syrup as an electuary in the treatment of catarrh and bronchial affections. The juice of the flowers has been used in the treatment of malignant fevers. The fruit of many members of this genus is a very rich source of vitamins and minerals especially in vitamins A C and E flavanoids and other bio-active compounds. It is also a fairly good source of essential fatty acids which is fairly unusual for a fruit. It is being investigated as a food that is capable of reducing the incidence of cancer and also as a means of halting or reversing the growth of cancers.
Five herbal remedies used as gastroprotective crude drugs in Turkey were assessed for anti-ulcerogenic activity using the EtOH-induced ulcerogenesis model in rat. The crude drugs investigated comprises fruits of Elaeagnus angustifolia
Brooks, Mai Nguyen M.D. Extracted properties from the Russian Olive to kill cancer. His United States Patent Application number for it is 20070299046 on December 27, 2007. He is applying for the use of it on all types of cancer.
Other patents are applied for also, one of them is IMMUNOTHERAPY OF POLLEN ALLERGY
The Russian olive is not a true olive. It is allegedly the tree referred to in the Bible (Isaiah 41:19) as an "oil" tree. The terms "oil", "olive" and Elaeagnus all come from the Greek word for olive,ela’a (olives were the only source of oil in ancient Mediterranea). The scarcer trebizond date (E. orientalis) is similar to the Russian olive, but the flowers even more fragrant; it is said that long ago in Persia, the fragrance affected the passions of women so strongly, their husbands had to lock them up. Perhaps the more available species of Elaeagnus could have a similar effect--be the first on your block to find out!
More here: LOL