Fenrir was a massive wolf creature. Probably referring to Rasputin's power.
Surtr drown most likely references the events of the Norse Ragnarok (apocalypse). Surtr burned the earth, but life arose from the depths of the sea.
Interesting to see the Norse and Greek mythos tied into the background of the game... I shall dig deeper.
Edit: Yuga sundown - most likely a reference to the Hindu cosmological cycle. According to it, the universe is on a cycle of destruction and re-creation. The cycle (get this) runs from a golden age (Wikipedia's term) down into a dark age. O.O
Sundown would be the beginning of the dark age.
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God I love how much people have discovered about simple grimore cards
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In any case, it's clear Rasputin shut down to save himself.