A key question for international policy-makers is whether it is primarily security or economic concerns that drive Russia's foreign policy, especially in strategic economic sectors. The author of this study provides an answer by analysing two cases - Russian gas exports to Belarus and Russian arms exports to China. He draws the conclusion that, in contradiction to an alleged "securitisation" of Russian foreign policy, it is economic rationales of relevant sub-state actors, rather than the state's security rationales, that have determined Russian foreign policy on exports in strategic branches.