While environmental issues attract growing interest all over the world Russia has kept aside from this trend for a long time. Its participation in international environmental cooperation has always been determined primarily by the external policy’s objectives. In Soviet times, participation in global environmental initiatives was a channel of collaboration with the West. In the 1990s, it was a means of integration into the international community and one of the major areas of cooperation with the US. In the 2000s, Russia used the environmental agenda for gaining trade-offs from Western partners along with attraction of foreign investment. At present, the understanding of possibilities to reap benefits from the country’s natural capital is strengthening among Russian political and business elites. As a result, Russia’s involvement in international environmental cooperation may stir up in the near future.