Russia’s revenues from oil and natural gas are enabling its aggressive and often anti-Western foreign policy. Russia’s falling economic performance has toned down Russia’s rhetoric, but has not drastically changed Russia’s foreign policy narrative, which remains decidedly anti-status quo and implicitly anti-American. The U.S. needs to devise incentives for steps that facilitate Russia’s integration into global markets, but deny benefits if Russia continues to pursue anti-American policies or refuses to enact the needed changes.