Not just Russia. The two preconditions for success are rule of law and property rights.Had Russia embraced British values of individual freedom, the rule of law, free trade and enterprise it would probably be one of the most powerful countries on the planet. The reason it's backward is because of the crackpot government and endless corruption. I don't think it will change any time soon.
See also every third world shit hole ex colony and compare to the ones that kept those two concepts.