There is another reason why Russia is weaker than most people realise and that is its population. It's population is about 143 million whereas the UK, France and Germany equal 210 million and if we include the other European countries considerably more. On average each of those Russian citizens aren't nearly as wealthy or as well educated, or as healthy as a European citizen.
Life expectancy:-
Germany 81
France 82.4
UK 81.2
Russia 70.5
It should also be noted that the population of Russia has basically levelled off but almost every other county has seen a consistent rise.
Economic Strength by GDP 2018 in millions
Germany $ 4,029,140
France $ 2,749,696
UK $ 2,808,899
Russia $ 1,576,488
Technology is also important. The West has always had a lead in technology over Russia but that lead is now getting larger and it's quite possible that Russia will lack the economic power to compete. There is a good argument to be put in that the cold war was lost because the Soviet Union didn't have the economic strength to compete and I would suggest that their position is weaker now then ever before. There areas of course where they can concentrate their efforts and be as good as the best but not everywhere.
This is why China is such a major threat to Russia. It has the population, increasing economic power and its technology base is growing at a very impressive rate. Overall I wouldn't hesitate to say that in the near future China's military capability will be considerably greater than Russia's.