Regional climate change affects the state of inland water bodies and their water balance, which is determined by a number of hydrometeorological and hydrogeological factors. An integral characteristic of changes in the water balance is the behavior of the level of lakes and reservoirs, which not only largely determines the physical and ecological state of water bodies, but also significantly affects the coastal infrastructure and socio-economic development of the region. This paper investigates the interannual variability of the level of the Ladoga and Onega lakes, the largest lakes in Europe located in the northwest of Russia, according to satellite altimetry data for 1993–2020. For this purpose, we used three specialized altimetry databases: DAHITI, G-REALM, and HYDROWEB. Water level data from these altimetry databases were compared with in-situ records at water level gauge stations. Information on air temperature (1945–2019) and precipitation (1966–2019) acquired at three meteostations located at Ladoga and Onega lakes was used to investigate interannual trends in the regional climate change. Finally, we discuss the potential impact of the lake level rise and regional climate warming on the infrastructure and operability of railways in this region. [ABSTRACT FROM AUTHOR]