"Little russia" is not a condescending term, it's more like "asia minor", or "new york city" vs. "greater new york area".
I've only encountered it through two lenses: 1) non-Russian people taking offense to their land being called a "little Russia", and 2) imperialists in Russia using it to encourage invading other countries.
It might be used by some who don't consider it condescending, but many of those on the receiving end do consider it an insult. So, issuing a blanket "not condescending" can not be considered correct
Greater instability has far greater risks to your pocket book than some short term concern of tiny rises in fossil fuel costs.