ABSTRACT

The subject matter of this article is the recent commotion between Russia and the Ukraineç This commotion has occured around two strategically important rawmaterials, the oil and the natural gas. It is argued here that the security concern this commotion has created in the West is similar to that of the cold war. In thıs article, after highlighting this renewed security issues, Russia’s expansionary motives are scrutinized. Accordingly it is argued that the recent price increases of oil and natural gas ended with Russia having excessive funds which led wealthier Russia to seek to improve her influence in the region, akin to the Stalinist era. As such the disagreement between the Ukraine and Russia rapidly spread to include the EU, Balkans and the Caucasus. The article progresses by proposing solutions that would compromise the interests of the regional actors. In this regard the article argues that Turkey, a member of NATO and a candidate negotiating to become a full member to the EU, can play a vital role in resolving disputes between conflicting actors. It is proposed that a peaceful and stable resolution to such crisis as the one between Russia and the Ukraine can only come from establishing alternative regional organisations similar to the former RCD, CENTO and ECO. The article further argues that such organisations can be instrumental in promotiing Western type democratic values in the region. They would also help enhancing economic and political stability and welfare of the peoples of the region. However, there still exists difficulties in establishing such organisations, one of which relates to the differences in the priorities between the EU and the USA and the other is the limited resource availability imposed by the current global economic meltdown. In addition, unpredictability of Russia’s foreign policy options during a period when the oil price declines is another obstacle. By this token, this article analyzes that Russia, a fading power after the end of cold war appears to have bounced back economically and became once again one of the important international players to be reckoned with.