Abstract: This article analyzes the political cooperation between Thailand and Russia over the period from 2014 to the present. The concepts of national interest, balance of powers, and neoliberalism are used as the analytical frameworks. The current bilateral cooperation is characterized by positive dynamics in the political sphere as it appears from the visits of the heads of government since 2015. These visits led to the advancement of all-round cooperation for both countries. However, the political ties have not yet reached the optimal level, and mutual cooperation between the two countries faces certain challenges. The main conclusion lies in determination of the issues in relationship between the countries: 1) political instability in Thailand affects the cooperation; some changes that took place in the Thai government between 2006 and 2014, as well as internal problems entailed by the coup d'etat, influenced its foreign policy. The author indicates that the key factors that affect Russia-Thailand relations are the political and diplomatic mechanisms. High-level visits and bilateral discussions contribute to strengthening of ties between the two countries. However, for further development of the relations, Thailand must resolve its domestic issues.