EMP pulse is designed to knock out electrical devices (electronics in particular included). It, or something similar, happens sometimes naturally from the Sun and burns out power grids in solar storms. It basically induces a current in any wire. ANY wire.
Anyway, if used, it would be either a precursor to invasion or some other act of war. Note that high altitude nuclear bursts deliver an EMP pulse too and they are often sent "first" so they knock out much of the area's ability to respond to the incoming other stuff (lower altitude nuke, or conventional bombs, or whatever).
Military stuff is hardened against it, but not necessarily foolproof.
Should you have a bike? Sure, exercise is good for you! But if there's an EMP bomb from a major country, you may as well be asking if you should kiss your .... goodbye rather than if you need a bike.
Now, terrorists may try for an EMP bomb, but really, it's a lot harder for them to construct and they require a LOT of energy as input. That's why the major EMP concern is from the Sun, a nuke or at least a major-country-attack.
If you want to take precautions (and it's not a bad idea, since the Sun can produce it too)...you should get an emergency radio with a crank-power source (maybe
batteries too) and WRAP IT IN A FEW LAYERS OF ALUMINUM FOIL and store it in a metal file cabinet.

The metal shield around it will stop it from being fried by the pulse. Then you'll at least have something to listen to after the event is over. (Make sure you change out the
batteries if you store them with the radio...better separately...but old
batteries leak acid.)
Anyway, EMP from Russia would not only be an act of war, but a precursor to nuclear war. And we still have M.A.D. so ...I'm not sweating it anymore than I'm sweating nukes. I'm not going nuke-crazy like in the 50's.