The author offers an overview of the key trends in the evolution of European security at three levels -pan-European, transatlantic and the EU- over three distinct periods since the end of the Cold War. At the eve of a new phase of pan-European discussions, the Russian proposal with respect to pan-European security is considered. The author concludes by stating that it is the question of Russia’s place in the European family that is at stake at the current stage. The scope and duration of renewed pan-European work will depend on the objective that Russia itself sets for its future.