Russia’s economy is intertwined in global markets, but is increasingly controlled by a patrimonial authoritarian Russian state that allows elites to use and maintain political power for distributing wealth among patrons and clients. Transimperialism is the Russian leadership’s attempt to access the fruits of globalization and yet sustain patrimonial authoritarianism at home. Europe and the United States should not isolate Russia, but neither should they allow the Kremlin to participate in globalized markets without following the rules of free enterprise. The best path to an integrated Russia is a transatlantic strategy of engagement with free market economy that involves Russian society and business and maintains high standards for investment and trade.