The ‘strategic partnership’ between Moscow and Beijing is already more than two decades old and continues to evolve toward more consolidation, a trend which the coronavirus pandemic will only serve to accelerate. Its current state can be characterized as a quasi-alliance, or entente. The article first examines the Russia–China cooperation in the two most crucial areas—geo-economic and military. Then, it asks the question whether Moscow and Beijing could be on the verge of forming an alliance. The article proceeds to analyze the Russian–Chinese interaction in the areas of Eurasia where both of them have significant stakes and intersecting interests: East Asia, the post-Soviet space (with the focus on Central Asia), and the Arctic. Finally, the author draws up several scenarios envisioning the future of the Sino-Russian relationship.