Of course it is!
From TPM, this gem (The headline reads Russia Defends Anti-Gay Law: It’s Not Discrimination, It Applies Equally To Everyone):
The IOC received a letter Thursday from Russian Deputy Prime Minister Dmitry Kozak giving assurances the host country will comply with the Olympic Charter’s provision against discrimination of any kind.And you know he's right. I mean, straight people can't say it's okay to be gay, either, so there.
However, Kozak didn’t back down on the issue of the new law, which penalizes anyone who distributes information aimed at persuading minors that “nontraditional” relationships are normal or attractive.
Kozak says the law applies equally to everyone and “cannot be regarded as discrimination based on sexual orientation.”