The purpose of this article is to examine Bulgarian-Russian relations. The author provided a detailed analysis of some economic areas of bilateral cooperation, taking into account transformations in the international system, European sanctions, and scientific prerequisites for further development. The material presents a brief analysis of the course of the recent mutual meetings of the heads of state, as well as their representatives. The author also considers the prerequisites for the formation of diplomatic relations between Russia and Bulgaria. The author expresses the opinion that there exists a positive vector of development of political dialogue with regards to the analysis of the leading parties in Bulgaria and cultural similarity of countries. The author paid particular attention to trade and economic cooperation, using official statistics of the Federal Customs Service of Russia are given (based on the report on foreign trade between Russia and Bulgaria in 2018: trade, exports, imports, structure, goods, dynamic). Russia ranked sixth in the number of foreign tourists visiting Bulgaria. Therefore, the sphere of tourism in bilateral relations needs more detailed review. The decline for 2018 can only be attributed to the World Cup in Russia, intense competition from other areas, as well as the fluctuation of the exchange rate of ruble. The author considered business forums such as, for example, “Bulgarian Business Day in Russia: Bulgaria — a bridge to the European Union” and cooperation in the field of education and science, with Financial University as the leading partner of the Bulgarian universities. The author discussed some issues of regional cooperation within the framework of the Organization of the Black Sea Economic Cooperation (BSEC) as the platform for dialogue between the countries. The material is dedicated to the celebration of 140 years of diplomatic relations between Russia and Bulgaria.