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"Masquerade" is one of the most famous works of a prominent Russian poet Mikhail Lermontov. Its storyline is that of love and jealousy unraveling in the midst of a masquerade party.

The play's protagonist is Yevgeny Arbenin, a XIX century Russian nobleman. He, who used to be an avid gambler and extravagant spender, is now sick and tired of high society and happily married to the young and pure-hearted Nina. Meeting Nina after a masquerade party, which she attended alone, Arbenin discovers that one of her bracelets is missing. He recalls having seen exactly the same bracelet in the hands of his friend – Prince Zvezdich, who claimed receiving it from a masked woman as a promise of her undying love. Carried away by blind fury and dreading the prospect of becoming a laughing stock for the whole city, Arbenin publicly dishonors Zvezdich and puts poison in Nina's ice cream. With her dying breath, Nina professes her love and fidelity to her husband, but, even though Arbenin, too, loves her madly, he cannot bring himself to believe her. In the final part of the play, Arbenin is paid a visit by a vengeful Prince Zvezdich and the Unknown Gentleman, who bring him the proof of Nina's innocence. Arbenin goes mad from realizing what a terrible mistaking he made.

"Masquerade" is the play that has been hugely popular with Russian theaters and their directors.

In particular, "Masquerade" is one of the legendary productions by Volgograd New Experimental Theater (NET), which premiered back in 1993, with People's Artist Otar Dzhanghisherashvili as its director. The starring role of Yevgeny Arbenin, a man of deep passions, rebellious mind and prominent intelligence, has been and is brilliantly embodied by Oleg Alekseyev, Merited Artist of the Russian Federation.

Among the other characters, there is Kazarin – a reckless card-playing addict, Prince Zvezdich – a posh ladies' man, Baroness Strahl – a love-starved woman who goes too far in her masquerade flirting, Nina Arbenina – a tender and sensitive young lady, and a tumultuous crowd of other party-goers. Altogether, the actors of the New Experimental Theater build up an atmosphere of inescapable impeding tragedy, leaving the spectators shaken to the bottom of their hearts.

The passionate rendition combines a deeply psychological take on the characters with splendid acting, strikingly beautiful production design and expressive musical score to accompany it: during the play, one hears Rodion Shchedrin's "Carmen suite", songs by a Soviet bard Bulat Okudzhava, music by Peter Gabriel and Vangelis. A fantastic piece of decorative imagery is a waterfall in the middle of the stage which is running pure and clear in the beginning (to symbolize sincere love and affection between Arbenin and Nina), but turns blood-red in the final (an image of a blameless victim of jealousy).

The play has been on Volgograd stage for many years, and each evening all tickets are sold out and applause never dies – the public being highly appreciative both of the great source material and of the actors' wonderful performance.