Abstract—One of the modern global trends is the accelerated formation of a “blue economy” based on transport and logistics, resource and raw materials, and other opportunities of the seas and oceans, which occupy more than 70% of the Earth’s surface. The article substantiates the growth in the importance of maritime economic activity for the Russian Federation and emphasizes the peculiarities of realizing its interests in the World Ocean, taking into account foreign policy, marketing and economic, technical and technological, financial and investment, infrastructural, and institutional opportunities and limitations. Attention is focused on the factors and features of the dynamics and spatial localization of such important industries for Russia as seaports and logistics, hydrocarbon production on sea shelves, production and processing of marine biological resources, shipbuilding, and coastal industry. It is shown that, on the one hand, Russia’s sphere of potential (declared) interests is the waters of the entire World Ocean and, on the other, the country’s maritime activity has a predominantly Circumeurasian (delimiting the mainland confined to its marginal seas) character, consistently shifting (under the influence of climatic, market, and geopolitical factors) into the Arctic, as well as the coastal zones and water areas of the Far East. The maritime interests of the leading Russian companies (Gazprom, Rosneft, Lukoil, NOVATEK, Rosatom and Rosatomflot, Sovkomflot, Norilsk Nickel, etc.) are emphasized, an inventory of limiting factors and the risks of further maritime orientation of the Russian economy has been compiled, and the most important areas of Russia’s presence in regions of the World Ocean in conditions of growing geopolitical turbulence and geoeconomic competition are identified. As specific results, we should single out the well-substantiated priority directions of Russia’s presence in the World Ocean, as well as the main priorities and directions for building up an effective Russian presence there. The identified limiting factors and limitations of maritime activity in modern Russia are of particular interest.