Russia is going to hell in a hand basket.
The way I see it we do not have many options.
We can one: Support the further breaking up of countries off of Russia by guaranteeing the sovereignty of these counties with out military.
Two: Watch as Russia falls further down the economic ladder as it is made more and more uncompetitive by the closing down of market freedoms (either incomplete market reforms or a reversion back to a form of communism).
Many of the articles that I have read seem to place Russia in the economic phase America was in during the early twentieth century (With robber baron's and the like). In a lot of ways they are even further behind on the democratic front.
No matter how you see the situation, this article is an interesting read.
If many of the stories coming out of Russia are true, Putin is going to be another dictator, and Titor is/was right.