In the 2000s, most experts considered the role of political opposition in Russia as peripheral at best. But with the protest wave of 2011-12, opposition actors and movements reentered the political arena. What factors contributed to this development? How did the opposition respond to major challenges and resolve its internal contradictions? What are its current prospects? This memo presents an account of the trajectory of opposition politics in Russia. It analyzes its major organizational and strategic problems and pays special attention to the difficulties of maintaining a “negative consensus” against an increasingly harsh authoritarian regime.