The present article is devoted to the analysis of the use of conceptual metaphors and their role in formation of political discourse of English-language media. For identifying the specificity of conceptual metaphors and their influence on this type of discourse, the article presents a grounded theory research, within which metaphoric concepts are chosen with the help of content analysis method. The research shows that conceptual metaphors are significant for both collective and individual identity. Moreover, they are a primary tool for transmitting beliefs, cultural values and knowledge of a nation. As the study is conducted within the frame of political discourse, the authors make attempts to specify the peculiarities and functions of conceptual metaphors in this type of discourse. The analysis reveals that conceptual metaphor serves: • to persuade the audience; • to explain intricate processes in more familiar language; • to give a scope to combine events and issues with a general political or cultural nature. The authors come to the conclusion that conceptual metaphor is supposed to be a discourse-making factor in the press which, on the one hand, represents a powerful means to influence the audience and, on the other hand, shows national consciousness.