The story advances a recurring pro-Kremlin narrative which casts Western media as biased against Russia. Under this narrative, outlets such as Bloomberg will not hesitate to report bogus statistics for the sake of impressing their Russophobic prejudices on unsuspecting readers.
VTsIOM's statistics on public trust in politicians are based on two different survey questions, which in turn produce two different percentages.
The first question is closed-ended: "Do you trust or not trust... [name of public official]"? Based on this, Putin's approval rating stands at 67.9% as of 17 May 2020. The second question is open-ended and allows multiple answers: "When it comes to politicians, whom do you trust, and whom would you not entrust with solving important state issues?" In this case, Putin's approval comes to 27% as of April 2020.
The Bloomberg article correctly cites the second figure (27%) and correctly bills it as an "historic low," given that Putin's approval is now at its lowest since 2006. Meanwhile, the Russian Embassy in the US countered Bloomberg's reporting by citing the first figure (~67%), implying that this is the only relevant statistic produced by VTsIOM.