Publications
How the 2025 NSS Reshapes U.S. Engagement in the South Caucasus
By Aytaс MAHAMMADOVA, Energy Security Expert affiliated with the Caspian-Alpine Society
The South Caucasus has long occupied an ambiguous place in American foreign policy, neither central to U.S. national security nor irrelevant to it. The region has historically mattered insofar as it intersected with larger geopolitical contests: between Russia and the West, between energy producers and consumers, and between stability and fragmentation along Eurasia's inner frontier. The 2025 U.S. National Security Strategy codifies a shift that will sharpen this logic, moving the United States decisively away from expansive regional engagement toward selective, interest-driven involvement. While the document does not explicitly address the South Caucasus in its regional sections, its underlying principles, such as restraint, burden-sharing, transactional-ism, and rejection of transformational agendas, will fundamentally reshape Washington's engagement with the South Caucasus states. This recalibration reflects broader strategic realities: finite American resources, diminished appetite for open-ended commitments, and recognition that regional outcomes will ultimately be determined by local power dynamics rather than external patronage. READ MORE
Publications
The Case for a Self-Regulating Ceasefire in Ukraine 
By Tabib HUSEYNOV, independent policy analyst and researcher
Diplomatic initiatives to end the war in Ukraine are fundamentally misguided, because they seek a political solution that remains unattainable under current circumstances. International efforts should instead focus on securing a stable ceasefire that locks in the existing contact line without conditioning its achievement on impractical and damaging political concessions on Ukraine’s sovereignty or the fate of its occupied territories. The durability of such a ceasefire should rest primarily on Ukraine’s own strength, not on international peacekeepers or Russia’s goodwill.
Ukraine and Russia are locked in a grinding stalemate. Neither can achieve a decisive military victory any time soon, and neither can accept the political terms the other demands. Russian forces make incremental advances, but at the expense of staggering losses. Latest data on Russian casualties from the Ukrainian General Staff and the Ukrainian open-source mapping project Deep State suggest that between January and December 2025, Russia lost roughly 96 troops per square kilometre taken. With roughly 5,000 square km of Donetsk Oblast still under Ukrainian control, Russia would need to sacrifice close to half a million servicemen to occupy the remainder.
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Publications
Armenia in 2026: What Is Next? 
By Benyamin POGHOSYAN, PhD, Senior Research Fellow at the APRI Armenia
Armenia’s pivotal 2026 looms: a year that will test fragile peace efforts with Azerbaijan and Turkey, redefine Yerevan’s ties with the EU and Russia, and unfold amid deepening political and societal polarization.
The year 2026 could be crucial for Armenia, significantly influencing both the foreign and domestic policy trajectory of the country. Externally, the main developments to monitor are the Armenia–Azerbaijan and Armenia–Turkey normalization processes. Will the August 2025 Washington Declaration bring the restoration of all regional communications – including the opening of the Armenia-Turkey border and the signature of an Armenia-Azerbaijan peace agreement – or will it meet the fate of previous, unsuccessful attempts to establish lasting peace and security in the South Caucasus? READ MORE
Publications
Leveraging Taiwan: India’s strategic counterbalance to China 
By Shanthie Mariet D’SOUZA, PhD, founder & president, Mantraya Institute for Strategic Studies (MISS)
Record trade and closer ties with Taipei mark New Delhi’s shift from caution to assertiveness.
In 2024, for the first time ever, bilateral trade between India and Taiwan exceeded US$10 billion. And in the past six months alone, governments and businesses in the two countries have agreed on multipledeals that bring their semiconductor, tech, artificial intelligence, and industrial sectors even closer together, along with supply chains. These new trade partnerships support Taiwan’s “New Southbound Policy” and India’s “Act East” and “Make in India” policies, with Taiwan alone investing US$4.5 billion in India since February 2024. While the surge in Taiwanese investment in Indian companies is grounded in the economic dimension of the relationship, there is another dynamic taking place. Like most countries, New Delhi does not officially recognise Taipei. Yet its compliance with the “One China principle” – the condition set by Beijing that nations must diplomatically acknowledge there is only one Chinese government and must not establish official contacts with Taiwan – has become more nuanced. READ MORE
