Twenty years after the Soviet collapse, with all the hopes that inspired that Russia might embrace democracy, it comes down to this. A Russian electorate consisting of one person has decided that Vladimir Putin will return as president next year.

Though Mr Putin’s popularity is not what it once was, there is little doubt this will come to pass. Russia’s tightly controlled political system will not allow any credible challenger to stand against him next March. Indeed, no such challenger has been given the chance to emerge in recent years. All the state’s resources will ensure that Mr Putin returns for what, under new electoral rules, could be 12 more years.

It is wrong to overstate the significance of this decision. Mr Putin has, after all, remained Russia’s paramount leader throughout the presidency of Dmitry Medvedev – which has been disappointingly short on achievements. His return to what is constitutionally the top job preserves at least one small shred of democracy, in that Mr Putin is still more popular than his protégé.