The word Триколор (capitalized) appears in the song. I assume this is a reference to the Russian flag. Am I right?
Yes.

Hahaha... This is not easy thing.
First of all Timati has... controvesal popularity. I think it is similar to popularity of Justin Bieber for example. So there are lot of haters of him.
I do not know what Timati has in his head on his own. But this video obviously is too... "servile" in many ways.
It has strong "trolling effect".
For example I "thumb it up", for the glory of trolling. But the song itself is a good way to torture my ears.