I examine the performance of the feminist punk band Pussy Riot in the Christ the Savior Cathedral, Moscow, 2012, and the immediate political context of this performance. Three members of the group were arrested, accused of hooliganism motivated by religious hatred, and sentenced to two years in prison. One member was released on probation, the others were granted amnesty after they served nearly the full sentence. A relative harmlessness of the crime in comparison to the severity of the punishment was striking. Looking at the feminist activist group Pussy Riot and their most famous performance, I examine how political and civic activism can be read, interpreted, and practiced in the neoliberal context. I suggest that Pussy Riot is a telling story revealing the nature of Putinism as a Russian multicultural neoliberal project. By exercising state power over the female bodies of Pussy Riot protesters, the political imaginary of the Putin Modern strives not only to discipline the bodies of political activists, but also to perpetuate a patriarchal oligarchic regime maintaining a status of the second-class citizenship for women and sanctioning and condoning the genderization of those whom it deems fit. I argue that the reason Pussy Riot’s performance generated a political affect was that they, consciously or not, worked with Russian “cultural memory.” A spiritual practice and a tradition of the Orthodox sanctity called jurodstvo underpinned their actions in the given cultural context. The trial, in turn, evoked a specter of the show trials conducted by the Soviet state. The power dynamics at play during the performance followed by the trial, made many people co-participate by interpreting the events, articulating positions, and changing sides. The “meaning” of the action was, and still is, intensely contested.