I listened to a couple of tracks, and -as far as I can see details of the scan- IMHO it's an Indie production of Cohen covers by Vassily K., the text says the tracks were recorded February-Aug 2002 in Lund, Sweden.
On the cover there is (probably) a fake photo of Vassily K. with LC.
The covers that I heard are close translations of original texts into Russian, cannot say much about their artistic merits as my Russian is not that good.
Why so many Swedes involved becomes clear reading the profile on MySpace:
"Vassily K. is a Russian musician, singer and songwriter. He started up on the local rock scene in Murmansk, the very North of Russia, studied electric guitar at the local music college and in 1998 moved to Lund, Sweden. There he studied musicology at the University of Lund and became aquainted with some Swedish musicians. Former members of the experimental band Kurten have become his near friends and long-time collaborators. Together, under the name Vassily K. & the kurtens, they recorded several albums which were released between 2001 and 2006 in Russia on different indie labels. Now he lives in Moscow, where he founded his current band, Vassily K. & The Intellectuals. "
http://www.myspace.com/vassilyk
More about the artist himself could tell only people living in Russia, IMHO he is one of the many Indie singers/songwriters enabled into the public space by the Internet.
