In fact I had to open a Wikipedia to learn the name of this place, as I mistakenly thought this is just some cool viewing platform located high in the Caucasus mountains, built by Soviets. Turns out it's not only built by Soviets, but bears the name of The Russia–Georgia Friendship Monument
Located on the Georgian Military Highway between the ski resort town of Gudauri and the Jvari pass, the monument is a large round stone and concrete structure overlooking the Devil's Valley in the Caucasus mountains.
Russia–Georgia Friendship Monument
This monument has been built in 1983 to celebrate the bicentennial of the Treaty of Georgievsk and ongoing friendship between Georgia and Soviet Russia.
Inside the monument is a large tile mural that spans the whole circumference of the structure and depicts scenes of Georgian and Russian history.
But what's cool - a spectacular view can be observed from this viewing platform:
For the history lovers - Treaty of Georgievsk
The Treaty of Georgievsk was a bilateral treaty concluded between the Russian Empire and the east Georgian kingdom of Kartli-Kakheti on July 24, 1783. The treaty established Georgia as a protectorate of Russia, which guaranteed Georgia's territorial integrity and the continuation of its reigning Bagrationi dynasty in return for prerogatives in the conduct of Georgian foreign affairs. By this, Georgia abjured any form of dependence on Persia (who had been the suzerains of most of Georgia for centuries) or another power, and every new Georgian monarch would require the confirmation and investiture of the Russian tsar.
This place is very cool to fly a drone around, see: Gudauri View Point from a drone flight