There is an old saying about making the best of a bad situation, if someone gives you a lemon, make lemonade. As a result of invading Georgia, the world has handed Russia a number of sour lemons in the form of diplomatic signals that things Russia wants won't be forthcoming. Things, for example, like membership in the World Trade Organization (WTO).
This article from Agence France-Presse says the Russians have announced that they no longer actively seek membership in the WTO, although low level negotiations may continue. It is always better to claim you don't want something you won't be allowed to obtain.
Make no mistake, Russia isn't happy making this announcement. It is a feeble attempt by the bear to save face.