7006 fan:
Yes, and if you're a Russian you still pay much less than a Westener where travel is concerned. They still pay about 30% of the going rate for a former Soviet hotel, eg the Rossiya in Moscow. They also pay much less for domestic and international travel on Russian-based carriers. Some would argue that in both cases that's all they're worth.
With regard to the visa situation, the great fear (as I understand it), is that if Russia eliminates the visa requirement for EU nationals, there will have to be a reciprocation, thus raising the spectre of the EU being flooded with a significant criminal element. Most Chechens carry Russian passports - think about it.(btw - for those of you who might think it's flooded already - you ain't seen nothin' yet!)
This is precisely what happened with Albania.
On the plus side there would presumably be a significant inflow of beautiful Russian women too!