It's probably in reference to NATO countries supplying Ukraine with weapons on the provision they are not used in Russian territory. This meme is potentially implying that NATO shouldn't care about a direct war with Russia.
The reason it would be using LOTR is because DAE Ruzzians is orcs?
But don't worry, this time the racism against the enemy is justified since they are inherently different, and not even european. They have a completely different outlook on death, and don't value their own or each other's lives. Also the same with China.
You can be an ethnic Russian. That's kind of besides the point though, "racial" boundaries are very often blurred and a hard and fast division of peoples is inherently a generalisation.
It's not xenophobia either; russia is the invader and oppressor, with overwhelming popular support domestically. Using derogatory terms for an oppressor that's raping, torturing, and murdering isn't any kind of phobia.
Maybe, but this meme is clearly in reference to the restrictions on supplied weapons to Ukraine. The LOTR link I might be reading into a bit much, but the prevalence of the term orc and the trotting out of the Asiatic horde trope made me primed to see it in this.