After more than three decades of tensions, a relative calm has been achieved in the South Caucasus — a region long dominated by intense rivalry between Azerbaijan and Armenia and among global powers, namely Russia and the West. Last August, Baku and Yerevan agreed to put aside their war and take steps toward diplomacy, focusing on economic cooperation. But this fragile stability today faces a new risk as the escalating US-Israeli war with Iran brings new tensions to their doorstep.

After more than three decades of tensions, a relative calm has been achieved in the South Caucasus — a region long dominated by intense rivalry between Azerbaijan and Armenia and…

El frágil equilibrio regional convierte al Cáucaso Sur en un actor especialmente expuesto a las consecuencias geopolíticas