You are sort-of both half right, both half wrong. Russia kept a lot of territory, including important sites where natural resources are mined. But they lost a

You are sort-of both half right, both half wrong. Russia kept a lot of territory, including important sites where natural resources are mined. But they lost a lot of industrial capability. Not just in the former USSR, but in the former client states east of the Iron Curtain when they went their own way. Places like the GDR and Czechoslovakia punched well above their weight when it came to economic functionality of the Soviet sphere. So did the Baltic states and Ukraine in USSR proper. For example, the only dock suitable for building really big warships like aircraft carriers is located in Mikolayiv, Ukraine. Needless to say that it won't be accepting Russian orders anytime soon.