In this article the main aspects of the European Green Deal proposed by the European Commission in December 2019 are analyzed, putting the Green Deal into the broader context of European Union (EU) climate governance in order to assess whether and how it advances the EU’s climate agenda. Four broad and interrelated categories to evaluate the Green Deal are proposed. Its performance depends on whether it is and will remain a policy priority, despite the COVID-19 emergency and the ensuing economic crisis. Second, successful implementation depends on adequate financial endowment, including the shift of public funding from hydrocarbons to renewables and energy efficiency in post-pandemic economic programmes. The legal competence of EU institutions to coordinate and enforce the implementation of the Green Deal is also essential, as highlighted by ongoing discussions concerning governance to achieve zero net emissions by 2050. Furthermore, international cooperation with third partners on issues such as border carbon adjustment, technology transfers, and green industry will influence both the implementation of the Green Deal in the EU and the contribution of other major emitters to the climate agenda. The impact of the European Green Deal on EU-Russia relations is also investigated. In this respect, it is argued that the Green Deal poses a serious challenge to the traditional pattern of EU-Russia energy trade, which has been dominated by fossil fuels. However, the Green Deal also offers new avenues for cooperation and for a more sustainable EU-Russia energy relationship.