Well the money is still highly concentrated in Moscow as you might imagine. I have seen living standards rise though our here in the regions, our flat here (300km outside Moscow) has increased 100% in value over 3 years which is fairly dramatic.

As they say though in that article:

Paul Ostling, global chief operating officer at Ernst & Young, said it was not surprising that few people controlled most of the wealth in emerging markets such as Russia. He compared the distribution of wealth here to that in the United States when Rockefellers and Vanderbilts held a large part of the cash, at the beginning of the 20th century.

“Other societies have had similar evolutions,” Ostling said. “The key is to have an evolution.”