The Policy of Russia towards South Asia has recently become the subject of numerous speculations. As ties between Russia and China, it is apparent that Russia is gradually getting rid of the India-centric policy in South Asia. Moreover, its behavior towards Pakistan is also changing at regional and international levels. This study critically analyzed the transformations in the Russian strategy about South Asia owing to changed scenario of international power structure. The regional dynamic of South Asia has been discussed to comprehend the transformations in Russian strategy towards South Asia and particularly India and Pakistan. It is argued that the security interests have promoted Russia to change its policies by balancing the power equation with USA by cooperating with China and Pakistan. It was also found that, though Russia-India relations lack the passion of past but still a valuable driver of Russian behavior in South Asia.