Interesting idea but it would probably end up being something like Israel and Palestine or East and West Germany.
It'd be better to just start ending relations with Russia and stop giving the Russians access to the west. Let them live in their own creation. Just as they adore putting their cash in other nations, I bet they also like to spend their time abroad more than in Russia. The west is too open to these freedom moochers. Let them live in the nation they support. Cut the visas to western nations in half right now.