Russia watershed

Yet, while Russia’s economic prospects have been transformed over the past decade, the country finds itself at the political crossroads after President Putin circumvented the rules so he could stand for a third term as president following four years as Prime Minister, the power behind Dmity Medvedev.

His country has become isolated diplomatically – it steadfastly refused to endorse an United Nations move to condemn the bloodshed being witnessed in Syria – and efforts to silence opponents in Moscow and elsewhere have left Putin bereft of credibility.

It is how he responds to allegations of electoral malpractice that is likely to define the Putin’s third term in office, one that will only end on the eve of football’s World Cup in 2018.

For, if he is serious about reform, he will embrace the democratic changes being advocated by his opponents – and, in particular, Russia’s younger generations who are now aware of their rights and will not be silenced.

How President Putin responds to them, and his inherent desire to share power between the Kremlin and Russia’s oligarchs who control a significant proportion of the world’s energy supplies, will define his legacy.

And while Downing Street’s response yesterday was conciliatory rather than confrontational – the two countries will have to work together on the UN Security Council – this is a watershed moment in Russia’s history. She must not be allowed to turn the clock back.