The research subject is the analysis of international interaction between the Russian Federation and the People’s Republic of China since the late 20th century to the present time within the upcoming new prospects of long-term cooperation. The author makes a brief review of the recent history of interrelations between the two counties and forecasts their development for the nearest future within the adopted joint program “One Belt and One Road”. This project is based on the “complementarity” principle, i.e. the unification of advantages of China and Russia thus forming modern largescale “development partnership”. This study is based on a set of scientific methods, including the historical, institutional, system and comparative methods of scientific analysis. The scientific novelty of the study consists in the fact that the political science problem under consideration reveals the new understanding of the vectors of development of relations of the two largest world powers. Particularly, the author considers the role of China in realization of the largest projects of the Eurasian Economic Union in the context of economic decline in Russia and other countries, close to Russia, caused by the Western sanctions. In the context of the possible narrowing of the EAEU’s potential, China’s project of “One Belt – One Road” can naturally compensate Russia’s demand for effective partnership. A special author’s contribution to the study of the topic is the conclusion that in the contemporary world, the alliance of Russia and China can define many vectors of development of world politics for the nearest decades.