Interpol Red Notices are routinely used by oppressive regimes to harass political opponents abroad. They're not always effective; governments seem to be free to ignore these things if it appears to be politically motivated.
It's not a good look for the Russians to be so cheeky as to protest a common thief getting busted like this. I should hope that if somebody in (say) the UK ripped off a few thousand Russian pensioners over the internet, that the Russians could have him handed over (and thrown in Russian PMITA prison) quickly. Our Russian friends seem to have forgotten the notions of reciprocity.