The article features the concept of trust as a phenomenon of parasocial relations. Parasocial relationship is one-sided because its object is sometimes unaware of its subject. The phenomenon of people's trust in social institutions still remains largely understudied. The research was based on the sociocognitive approach developed by R. Falcone and C. Castelfranchi and the theory of social representations by S. Moscovici and D. Jodelet. In Russia, population's trust in authorities has always been low, and the COVID-19 pandemic is affecting it even more. The study revealed two forms of institutional trust, one based on social relations and the other based on parasocial relations. The institutional trust in modern Russia combines social and parasocial forms. They are closely interconnected, and the first can transform into the second. The deficit of social relations between Russian population and authorities in the conditions of declining institutional trust may lead to their replacement by less stable parasocial relations.