It's official. President Putin signed Russia into the Kyoto treaty today. It was the last country needed in order for the treaty to go into effect; ninety days after Russia submits the paperwork to the UN, the treaty goes into effect for the 126 nations that signed it. See the NY Times article for details.
Good, although Russia doesn't really need to do anything to go below their 1990 CO2 level; their economy went down and so did their CO2 emissions.
But at least they'll have to watch what they are doing more closely and they won't be able to allow national and foreign corporations to raise their emission levels too much (especially if they plan to sell their carbon credits, then they'll be walking a tight rope).
I read somewhere (I think Slate) that the Kyoto Treaty won't really do that much - countries just want an excuse to get together where the US isn't invited.
The stupid thing wont do anything because it leaves out all the main emerging econs and as such will leave out most of the polutters of the next decades.