Nothing in Russia is being done for the things like that. If the Putin's government issues some new law - be sure, it's all about money. This is just another example of such a stupid and born-dead law (not really new one, because it was approved a long time ago). Guess why? Because
some guy who makes money on data centers development has lobbied it (he's took 2 billion rubles only for his latest project):
That's it. Nobody cares about "protection". Only money, bribes (in the USA they call them "lobby") and... extremely big money. Just a business...
On the other hand, the only companies that will be affected by this law are... Russian ones that used to have their server networks over the world for the fastest response time. I mean those companies that operate with personal info (e.g. social networks).
As about the foreign companies, so nobody here can know how and which exactly information they store. I guess
nsa.gov and
cia.gov store megatons of personal information on Russian citizens and so what? Will they be fined by the Russian government or maybe they will lose a business license in Russia? C'mon, that's not even worth a joke...
So it fact, this is just another stupid law which won't work just because it can't work by design. Furthermore, the idiots who approved it don't even care about it. The only thing they care about is money they've got paid for it already...