The article considers the historical, geopolitical and economic background of the Northern Dimension initiative`s formation, as a special form of interaction between the European Union and Russia. The main features of the Northern Dimension program, as a separate initiative of the European Union, are highlighted. The conditions necessary for successful and fruitful activities of the Northern Dimension program are indicated. The practical implementation of the programs carried out within the Northern Dimension are analyzed, the prospects for the further development of the initiative are emphasized.