The article discusses Russia’s European policy in the wake of September II, 2001 and in the context of dual enlargement of NATO and the EU. Although under Putin some significant changes occurred in Russia’s foreign policy, it is not free of inconsistency and ambiguity. There are tensions in Russia’s vision of the Euro-Atlantic community between a focus on the United States as a super-power and Europe as a growing power. Despite this, Putin’s policy course seems to be set: to seek the closest possible alignment with the Euro- Atlantic community without merging into it. The EU is one stand in Putin’s strategy of alignment. This article provides analysis of Russia’s current dialogue with the EU, including the security area, outlines the impediments to their engagement and looks at the prospects for Russia’s further alignment with the Euro-Atlantic community.