Originated on December 11, 1944, the relations between the Soviet Union and Chile continued on and off. First broken by Chile on October 21, 1947, they were recovered on October 24, 1964 only to be severed again, this time by the USSR on September 22, 1973. The contacts renewed on March 11, 1990.

The legal bedrock of today's bilateral relations is comprised of the Declaration on the Principles of Mutual Relations and Cooperation between Russia and Chile of June 3, 1993, Agreement on Cultural Cooperation and Trade and Economic Cooperation Agreement, both of June 3, 1993, Memorandum of Intentions in the Area of Military and Technical Cooperation of October 4, 2002, and other documents.

There are also department-to-department agreements between Russia's Chamber of Industry and Commerce and Chile’s National Chambers of Commerce, as well as between the Russian Union of Industrialists and Entrepreneurs and the Society for Industrial Promotion and Reconversion of Chile, and the Central Banks of the two countries.

The scope of bilateral relations encompasses space. In this regard, a Chilean research satellite was launched from the Baikonur Cosmodrome in July 1997.

Considerable impetus to bilateral relations was given in the 2000s.

Santiago hosts the Chile-Russia Chamber of Commerce. In 2001, its subsidiary was established in Moscow.

The partners founded a Commission on Trade and Economic Cooperation that held its inaugural meeting in Moscow on June 28-29, 2005.
Russian President Vladimir Putin and his Chilean counterpart President Ricardo Lagos met repeatedly at the APEC summits. In October 2002, President Ricardo Lagos arrived in Russia for an official visit and two years later in November the Russian President paid a reciprocal visit as part of his trip to the APEC summit.

The Parliaments of the countries maintain active contacts, just as ministries and agencies do.

Rosoboronexport is a regular participant at EXPONAVAL and FIDAE, a naval exhibition and aerospace show held in Chile.