Abstract. The article examines intensification of Cuban-Russian relations in 2022–2023. The historical part of the article embraces the long-standing traditional connections between Russia and Cuba, which was especially tight and fruitful during the second half of the XX century until the 1990s. The author analyzes the geopolitical context shift: the start of a new phase of the conflict in the Eastern Ukraine has stimulated Russia to get closer with developing countries under the conditions of the introduction of sanctions by the West. The tough socio-economic situation in Cuba is further explored, analyzing the factors that spurred this crisis and made Cuba turn to raising foreign investments in hope to reach greater collaboration with Russia in this field. Diplomatic aspects of Cuban-Russian relations are studied, both at the international arena (Cuba’s position on the resolutions of the United Nations General Assembly concerning Ukraine) and on bilateral level (mutual visits of the state officials). The next part of the article thoroughly investigates the economic collaboration between the two countries in 2022–2023: ongoing projects in metallurgy, vehicle production, expanding thermal power plants capacities, and launching new initiatives in commerce, biopharmaceutics, banking, hydrocarbon supplies, etc. It is concluded that under the current conditions a further deepening of Cuban-Russia affairs is very possible both in diplomacy and in the field of economic cooperation. However, the economic collaboration will be more market-oriented compared to the history of economic relations in the period of the USSR.