Putin's successive governments have demonstrated an obsession with extending privatization without any consideration of the human cost. His rhetoric very much apes the kind of thing you hear from Republicans in the states about standing up to the men in the capital (despite saying this from the capital). His power is built on the support of oligarchs who are allowed pretty much unfettered control of huge swathes of the economy and, more recently, the Orthodox church.
I really fail to see how he could possibly be described as a 'Lefty.'
For the west's options, I'll link to an article that I put in the other thread, which summarises them:
http://carnegieeurope.eu/strategiceurope/?fa=54731
Basically, the west can't do much to directly stop Putin. But it can harm the assets of the people he listens to - it can put a stop to its bids to join the OECD and the IEA and use Russia's reliance on international financial markets.