The current study discusses differences between Russia and the Baltic States in terms of their strategic narratives, as well as how they interpret key terms and concepts in the field of security. To frame the scope of the study, the strategic narrative of Russia for the Baltic countries and the Baltic strategic narrative(s) for Russia are compared and analysed. Both sides are also locked within the bigger framework of European Union’s economic sanctions against Russia and the North Atlantic Treaty Organization (NATO) alliance’s deterrence concept. On the other hand, the Baltic States and Russia have a lot to gain from possible improvements in economic relations and reduction of regional security tensions.