The article of Russian and Ghanaian authors describes the evolution of political and economic relations between Soviet Union/Russia and Ghana throughout different historical periods (starting from 1950s to present). Great attention is paid to the basis of the cooperation laid in Soviet period. The article also observes current tendencies of the bilateral relations, which are quite friendly and fruitful. Moscow regards the Republic of Ghana as a reliable, time-proven partner especially on international issues: the establishment of a more democratic polycentric world order, ensuring regional and strategic stability, disarmament, combating international terrorism and other global challenges and threats. Russia and Ghana provide each other mutual support in the election of representatives of the two countries in international organizations. Russia and Ghana also develop their cooperation in the field of security. The participation of USSR/Russia in foreign trade of Ghana is analyzed. The significant increase in the number of Ghanaian trade partners is indicated while the share of Great Britain decreases and the share of Asian, African and other states increases. In recent years, the favorable conditions for the development of Russian-Ghanaian trade and economic relations were created. The cooperation of the two countries also develops in the field of nuclear energy. The main bilateral visits between Ghana and Russia are examined in the article. The special attention is paid to the first meeting of the Russian-Ghanaian Inter-governmental commission on trade, economic, academic and technical cooperation took place in Moscow in October 2014.