A creation of sculptor Vyacheslav Klykov, once a member of the notorious Pamyat' Society, the monument commemorates Prince Svyatoslav's victory over the Khazars:

The guy on the horse is Svyatoslav; the defeated guy with the Magen Dovid on his shield is a collective representation of the Khazars...
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Here's the symbol of the Pamyat' Society:

The head resting on a swastika is that of Jesus Christ, I assume.
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Khazaria.com, the American Center of Khazar Studies, seems like a very good resource.
A Wikipedia page on the Khazars is here.
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