The recent visit of the Russian foreign minister heralds the fact that bilateral ties between Pakistan and Russia are growing now and geopolitical and geoeconomic interests are at the core of this ever-increasing bilateralism. Although this visit is said to be in line with the recent summit held in Moscow for expediting the Afghan peace process and indicates increasing Russian interest in South Asia but there are few other developments, which should be taken into consideration before concluding. Firstly, the Russian foreign minister visited India before coming to Pakistan and it shows that Russia is looking at South Asia as a potential market to further its economic interests and diversify its exports and economic partners in the region. Besides, it is also said that the priority of Moscow, at the moment, is looking for the markets for its COVID-19 vaccines. Secondly, there is speculation that a new bloc formation is in the process of making where three nuclear powers of the global south, namely China, Russia and Pakistan, are joining hands to safeguard their economic and strategic interests in the region. This claim can be substantiated by the agreement of China, Pakistan, and Russia to trade in their local currencies instead of a greenback, connecting regional economies through roads and railway networks, and furthering the energy projects like North-South pipeline, etc. Trade volume between both nations is increasing and Similarly, Russia has agreed to sell Pakistan’s Mi-35 ‘Hind-E’ assault helicopters in a historic cooperation deal reached on August 19, 2015, the two nations carried out first ever large-scale military exercise in 2016, and recently Russian forces joined Pakistan’s Navy flagship AMAN exercise 2021. Russian FM Sergey Lavrov has reaffirmed that Russia stands with Pakistan and aims to deepen the brotherly relations and intends to maintain this momentum and high-level contacts.