I would imagine than Russia would stay an irrelevant
without access to any warm water ports. And a massively offensive oriented military meant to keep the Motherland safe in the same manner as Ancient Sparta.
Hmmm. No Cold War for sure. Napoleon may very well have seen his defeat at the hands of the Swedish in a pitched battle rather than the famed Russian scorched earth. Or maybe he was never defeated at all and controlled the course of Europe until his death, doing what the Romans could not.
The possibilities really are endless.
Peter was a very capable leader, it may very well have just delayed Russia's rise to power instead of curtailing it completely. Maybe communism remains the pipe-dream of academics worldwide, without having a yardstick to measure its results in the real world. The Polish Lithuanian Commonwealth, with only two strong enemies instead of 3, could very well have survived unmolested and continued to be a world power today.
Basically anything Russia had a hand in after their victory in the war could be subject to massive change.