Soviet nostalgia. Their own version of Lord of the Rings from 1991 have been found in an old TV-archive and digitized and uploaded to the youtube. It looks just like one could expect from a eastern European puppet show from decades ago -- even if it's live action. It only aired once before the collapse of the soviet union, not that they are related events. While it doesn't have the production value of the Jackson version it does have things he chose to cut from the books.