The article examines the position of the governments of Central Asian states upon the Crimea annexation by Russia in 2014. It as well analyses top challenges and threats to the region’s security within the framework of Russia’s expansive policy. Basic instruments of influence of Russia and China on Central Asia in early XXIst century have been investigated. For Russia, the levers of influence have been represented by military bases located in three out of five countries of the region, as well as weapon transfers to support the states’ armies and the Russian-speaking minorities residing in Central Asia. In its turn, China strengthened its positions in the region throughout importing oil and gas resources, raising investments and proposing profitable economic collaboration. It is determined that the events of 2014 shall have notable impact on the balance of powers in the region of Central Asia. In particular, Russia’s desire to spread its influence on its traditional sphere of interests, i.e. on Central Asia, resulted in deepening cooperation between Central Asia and basic Russian competitors – China and the USA, as well as in developing Central Asia’s collaboration with the North Atlantic Alliance. Thus, China has laid a course for driving Russia out of the Central Asian market of oil and gas, and region’s cooperation with the USA and NATO has been enhanced.