Vladimir Putin’s speech on 10 February 2007 at 43rd Munich Security Conference was cause for much discussion all over the world. The aim of the current paper is to analyze the translation into Estonian. In addition, the author attempts to find out if one can interpret the translation in the same way as the original text. An analysis of the translation shows some inaccuracies that can influence the impact on its readers. First of all it should be mentioned that Putin’s speech was not translated into Estonia in its entirety, and some parts that were left out are very important from the perspective of interpreting the message of the speech in general. In addition to these omissions, there are some passages where the translator has not made the best word choice. In spite of these criticisms, translating all important political speeches into Estonian should still be encouraged.