Multilateral security co-operation provides an interesting starting point for assessing the multilateral dimension of Russian foreign policy. Security relations constitute an arena where Russia has performed relatively forcefully and, at times, successfully. Even if due more to Russia’s nuclear arsenal and less to ﬁghting capacity, it is Russia’s military might that primarily underpins its bid for great power status. Alliances and multilateral security co-operation constitute a cornerstone of thismilitary prowess. This chapter outlines the development of the Collective Security Treaty Organization (CSTO) and the Shanghai Co-operation Organization (SCO), from Russia’s perspective. It assesses the achievements and shortcomings of these two multilateral frameworks and also offers insights into Russia’s multilateral activities within these organizations.