Over the last three decades, the foreign policy of Russia has undergone major transformations, at least on three occasions. Right from being over dependent on the West in the early 1990s to becoming self-sufficient in the economic field and pragmatic in foreign affairs in the first decade of the present century and finally turning into an aggressive and assertive mode, Russia has travelled a long path. The present paper aims to give an overview of the transition of Russian foreign policy during the course of last three decades with special emphasis on the theoretical linkages between domestic politics and foreign policy, particularly during the tenure of Vladimir Putin. Finally, the paper focuses on research findings along with the subjective views of the author with in the neo-realist framework.