Russian "man on the street" says racism "no worse" in Russia than elsewhere. Though not exactly a recommendation it may well be true. The difference may well be that Russia has shown a tendency to institutionalize human rights violations as indicated by it's anti-propaganda laws effectively limiting the rights of all Russians to say anything positive about gays in Russia.
Prompting calls for a separate boycott of the 2014 Olympic games. This is not the norm for Europe, not even Eastern Europe where Russia is the ONLY nation that bans "homosexual propaganda".
The actions of ones peers means as much among nations as it does among individuals. The boycott of South Africa by international sport may have done more to eventually shame them in to change than the economic boycott. You can spur domestic production to replace foreign trade but domestic sport will never replace the prestige of worldwide recognition in athletic competitions.
The argument that it has only hurt the athletes who are denied the opportunity to compete against the best becomes mute if those athletes are competing with the handicap of state-tolerated derision or even criminalization.