Since the end of the Cold War, the world entered the era of economic interdependence and cooperation. In contemporary times, no country in the world can exist in isolation. After a long period of hostile relations and negative foreign policy postures towards each other, Pakistan and Russia have acknowledged the need for pragmatic yet friendly relations with different states, globally in general and regionally in particular. They have realised that bilateral cooperation is extremely necessary to achieve their national security and foreign policy objectives. Russia, realising its global power status and its renewed drive to regain its past glorified position in international affairs, has made big changes in its foreign policy. It has adopted a new holistic foreign policy orientation towards South Asia while abandoning the country-specific policy that it had in the past. Pakistan on the other hand, after many tests and trials, have come to realise that it cannot depend on a single country in particular (to achieve its national security and foreign policy objectives) and have to expand its list of countries on whom it can depend on for support and have good relations with. Over the last decade, Pakistan and Russia bilateral relationship have commenced on the path of improvement, with both countries entering into multiple deals of cooperation in the domains of military, politics and economics. It is high time that Pakistan and Russia realise and accept the realities of international relations, learn from their past and further build upon the positive developments to solidify their bilateral relations for mutual benefits and for the good of the entire region.