In this Monterey Conversation, Michael Kimmage (The Catholic University of America), Olga Malinova (Higher School of Economics), Will Pyle (Middlebury College) and Jade McGlynn (Monterey Initiative in Russian Studies) examine the politicized memory of the 1990s and its role in shaping Russian society, attitudes towards the West, and sense of national humiliation. They contrast this with the economic reality of that era, outlining how the turbulence was used to fuel a sense of grievance and consider where memory and history diverge and how political uses of the 1990s are changing against the backdrop of Russia’s war on Ukraine.