Foreign Minister Julie Bishop says Russia's power is in decline as China, India, Japan and Indonesia become established global powers.
Ms Bishop told a forum in Washington on Thursday (AEST) the economic rise of Asia was bringing with it increasing strategic importance, military might and "soft power".
"At the same time relative power elsewhere is declining," she told the Centre for Strategic and International Studies.
While Ms Bishop affirmed she was not referring to the United States - which would be a "global leader in the foreseeable future" - the minister singled out Russia.
"Some powers are in decline, and not withstanding President Putin's more recent assertive displays, I would put Russia in this category," she said.
"It is certainly a lesser player than was the Soviet Union."
This was shown by Russia's share of the global economy falling to 1.6 per cent, making it the 15th largest economy, compared to the USSR which accounted for 7.7 per cent in 1980 or the fourth largest economy.
Just how smooth is the transition to new powers will depend on how countries compete for relative power, she said.
"Russia's annexation of territory, military incursions and support for separatist movements has flouted the principle of state sovereignty," she said.
China's behaviour on the international stage had been more nuanced, as it sought a greater role in global forums such as the United Nations.
However, its reclamation activities in the South China Sea had "ignored sensitivities in the neighbourhood and escalated regional tensions".
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