Owing to the worsening security environment and the uncertainty of the security guarantees provided by the U.S., Europe needs to revise its strategy towards Russia going forward. To provide recommendations for a new strategy, this article in the first part considers Russian understanding of deterrence, analysing the conceptual differences with the Western though and emphasizing why it matters. The second part of the article looks at the Cold War past and considers the policy of containment as the conceptual basis for a new and revised strategy towards Russia. Conclusion includes recommendation for the policy makers on elements that the new strategy should include.