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Basically this. Russia and its ruling party have big problems and so scapegoating a minority group offers a way to misdirect anger that would otherwise be aimed at the government. You may recognise this exact dynamic from your own country’s local right-wing party.
This does actually happen more than you think - it’s why all the world’s football and tennis stars miraculously decide to move to Monte Carlo as soon as they hit the riches. Which is exactly why we need a coordinated tax policy at an EU, EEA or global level, to make sure that you can’t just choose a neighbouring country and pay an order of magnitude less.