The Russians have never been a naval power, whether under the Tsars, the Communists, or the current regime. They lost the last naval engagement they were engaged in, during the Russo-Japanese War. Russia has had at most a brown water navy, although Brezhnev did try to make the Soviet Navy world class. However, the Communist economy could not sustain that sort of naval buildup.
So Russia blinked.
They are a naval power now, with the second (or third, behind Japan) best navy in the world. They sail in all regions at will.
When I sailed in the 80s we were taught to respect, if not fear them.
Their sub force alone gives them that status.