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In the conditions of the deep political crisis in the relations between Russia and EU “Northern Dimension” (ND) is one of few areas where cooperation is saved, though it became more modest. Some experts are prone to consider ND as a model of cooperation. Others, on the contrary, suppose that the achievements of ND are limited by the general format of cooperation with the EU. The objective of the paper is to analyze the perception of the ND initiative and programme in Russian federal and regional media since 1997 till 2018. ND is always discussed in Russian federal media in the integral context of the relations with the EU. Despite a positive perception of ND, its interpretation and coverage do not reflect its basic idea and key aspects. In 2001-2005 ND was viewed as a new original format for an equal dialogue with the EU and the opportunity for integration. After 2005, such romantic perspective led to disappointment. During the same period, in the mirror of regional media ND has been gradually transformed from the instrument for integration with the EU and regional development into a mean to solve regional and local environmental problems. All in all, despite the lack of common strategic vision of the project’s future, ND provides a unique opportunity to restore the relations between EU and Russia.