Following the 2011–12 Russian elections that sparked a wave of protests ending the era of Putin’s status quo, a newly awakened Russia is now asking of series of questions, such as how to transform the current system and who will be the actors to lead the transformation. Putin’s regime is clearly now in decline, but it is unclear whether the death knell has sounded for the “Russian System”— a combination of personal rule, the merger of power and assets, and a self-perpetuating statist-militarist model. Once can conclude, however, that the Russian system cannot be reformed from the top and that real transformation will come only through pressure from citizens.