For a country as large as and with a population as large as Russia that is truly pathetic......no,nobody is overly scared or worried by Russia...
Italy has a population of 60 million people, while Russia has 142 million. Given how Russia was plunged into absolute poverty during the transition to a market economy in the '90s, I see nothing pathetic in Russians achieving a standard of living just 2.3 times worse than the Italian one (without 100s of billions of EU infusions, a là Poland). Italy is a export powerhouse second only to Germany, with world-leading competencies in many crucial sectors.
Furthermore, as I explained in my post, these are nominal figures. When the ruble/usd exchange rate plunged from 30 rubles to the dollar to 68, following the annexation of Crimea, it wiped out nearly 50% of Russia's nominal GDP as expressed in US dollars. However, it would be economically illiterate to argue that because of this the Russian economy was halved. Yes, Russia relies on imports for many important types of industrial machinery, and these need to be paid for in USD or EUR. Now it's 50% more expensive to pay for these imports. However, Russia also sells its oil and metals for USD (Russia sells a lot more than it imports, about $200 billion more), and then changes it back to rubles inside the country. This is why despite sanctions and a recession Russian state finances remain robust (lowest debt to GDP ratio in the developed world, and fourth largest fx reserves, with a healthy budget proficit this year).
If a purchasing power parity metric is used instead of nominal USD, then Russia has a GDP of around 4 trillion USD, which puts it above Great Britain and France, and on par with Germany. By comparison, Poland has a PPP GDP of 1.2 trillion.
The swings in the exchange rate have meant that Russia has lost a share of GDP in the last 5 years that is larger than the entire Polish GDP (to those arguing that modern Poland is comparable to russia). If oil and metal prices rally tomorrow, and the ruble consequently strengthens to the 40s-50s, then Russia will add at least half a trillion to its GDP. This is why nominal GDP figures are not very useful.