another Soviet luxury sailboat.
Click to make it bigger.
BEK РОССИИ does seem to translate as Age of Russia (or Russian Century).
Update: Oh, this is neat. The boat was meant to compete in the America's Cup back in '92, but the club that owned the boat ran out of money before it hit the water. According to the LA Times, it was destined to be destroyed, but this other page says it's been sailing around as a luxury yacht and it was built in the same place as Sputnik.
Well today it's hanging out in Morro Bay.
Here's a longer range picture.
Both these were taken from my iPhone in a dry bag. It was too bright for me to see the screen when I took the pictures. I'm amazed the boat's in it the pictures at all.