The article analyses evolution of Ukraine’s foreign policy from early 1990s to the present day. Special attention is paid to the analysis of President V. Yanukovich’s foreign policy actions. The article examines in detail relations of Kiev with Russia and the European Union in 2010-2013, reasons pushing the Ukrainian elite towards the eurointegration as well as difficulties standing in this way. The author comes to the conclusion that although recently Ukraine has been drifting towards the EU, in the foreseeable future Ukrainian leadership will pursue a ‘multivector’ foreign policy.