This article presents the main theoretical approaches to the analysis of Russian foreign policy and assesses their contributions. I argue that although Russia’s international behaviour has been broadly analysed, realism, liberalism, and constructivism leave much unexplained and do not pay enough attention to the understanding of Russia’s perceptions and interactions between domestic and foreign factors. As such, the application of multi- level frameworks is advocated and role theory is proposed as an alternative approach which unites individual and state levels through a focus on state’s top leadership. Furthermore, it is uniquely positioned to examine the interplay between foreign policy makers and the constraints imposed by domestic and international environment. In second part of the article role theory is applied to the Russian annexation of Crimea. The analysis shows that the leadership mainly saw Russia as an advocate of states’ sovereignty and defender of compatriots living abroad. The close examination of sources of these national role conceptions demonstrates that the combination of various external and internal as well as ideational and material factors influenced leaders’ perceptions of Russia’s duties and responsibilities and determined Russian foreign policy decisions during the Ukraine crisis.