The conversation reflects on the past 25 years since Boris Yeltsin's resignation and the transfer of power in Russia. It questions whether Russia has been protected during this period, considering various challenges such as NATO expansion, sanctions, and demographic issues. The speaker believes that not only has Russia been safeguarded, but it has also moved away from the brink of losing its sovereignty. The argument is that maintaining sovereignty is crucial for Russia's existence as an independent state, and the actions taken have prevented a total loss of sovereignty.