The article is devoted to the problem of relationship improvement between UK and Russia under David Cameron’s – Nick Clegg's coalitional government, before the Crimea crisis of 2014. The author scrutinizes history and peculiarities of bilateral political and economic relations, which include the Britain's accusations of human rights violation against Russia, on one side, and the contracts between BP and Russian oil corporations, on the other side. Also the positions of the two states on such issues as the beginning of international intervention in Libya, the adjustment of matters with the civil war in Syria, and the settlement of situation in Afghanistan are highlighted in the paper. The article answers two main questions: what contributed to improvement of bilateral relationship, and what could help to make it better again in the nearest future?