The article deals with the current state and the prospects of relations between Russia and the Gulf monarchies. The author analyzes the most important political and economic interests of Moscow in the Gulf, and makes a brief overview of bilateral ties with the most important partners in this subregion. The author also shows the factors that affected the development of Russia’s relations with the Gulf monarchies. Particular attention is focused on the efforts of the Russian Federation to play a role of an active peacemaker and its attempts to reduce tensions between the Gulf states and Iran. The author comes to the conclusion that the importance of the Persian Gulf for Russia’s long-term political and economic goals is increasing, and the Gulf states became valuable partners of the Russian Federation in various spheres, including counterterrorism and the settlement of the Syrian crisis. There are also good prospects for mutually beneficial cooperation in a number of other areas such as hydrocarbons, nuclear energy and food security.