With the account of the problem based on extensive empirical material and on a lot of sources, the author discusses variants of interpretations given to Russian identity (by ruling elites, by nationalists, and by liberals) in the late Soviet, and, mainly, for that matter, in the post-Communist period. It is, anew, imperial understanding of ethnic Russians’ identity that is growing dominant in the recent time, especially within the establishment. The latter’s treatment of Russian Federation’s national identity has acquired a clear-cut state-centered character. As for Russian liberals, they haven’t concerned themselves at all with Russia’s self-identification problem, while being concentrated on economic reforms. The author holds that society would have taken their strategy and tactics in the sphere of the economy with more toleration if they based themselves upon a liberal-democratic concept of Russian identity. Here’s the main conclusion of the article: national identity is a critical factor for the grasping of modern Russian political problems.