I think there was a good film in here somewhere but it was far too long and hasn't dated that well. Robin Williams did an amazing job of *almost* convincing you he might be Russian but ultimately it would have made more sense and been more convincing if an actual Russian had taken the role. I found the strong Hispanic accent of the supposedly Italian love interest played by Maria Conchita Alonso irritating. Why not find an Italian woman, or rewrite the role as a Hispanic woman?
While it's a lovely idea looking at an New York full of immigrants, and I enjoyed the Russian Circus Troop let lose in Bloomingdales, sometimes I found the stereotyping of minor characters a bit much, especially a scene with an Asian doctor with a 70s sitcom Asian accent.
There was also an overlong sex scene which seemed to go on and on with no reason other than giving people an opportunity to look at Maria Conchita Alonso's (admittedly very nice) body. It felt exploitative and out of place.
It's been a while but I would recommend "Good Bye Lenin" if you want a bittersweet comedy poking fun at the absurdities of both the capitalist and communist systems.