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The paper outlines the most likely scenarios of the future European security architecture based on an analysis of several drivers, such as Russia’s leadership’s perception of Ukraine, the mindset of the Putinist elite, Russia’s state geopolitics, the domestic situation and prospects of a regime change in Russia, economic sanctions against Russia, energy and the export of Russia’s energy resources, and the positions of key Euratlantic actors. The current “unstable balance model” will remain the most likely scenario in case of a conservation of the situation on the Ukrainian battlefields. Since the concert model of security architecture entails a lack of a revisionist agenda among all the actors, the only reasonably probable security management upgrade is a “positive stable balance”. This scenario is conditioned on degrading Russia’s military capacity, Ukraine’s military advancements on the battlefields, a weakening of the Russian economy and maintaining the support for Ukraine in the EU and NATO.