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Beyond being a bilateral challenge, the conflict between Moscow and Tbilisi has deeply modified the political landscape in South Caucasus. Relations between Armenia and Azerbaijan are probably now more reliant on Russia. The triangle Moscow/Ankara/Teheran is enhanced, while the American presence is fading off. Russia has undoubtedly improved its own position, but the South Caucasus is not isolated from other convulsions.Gaïdz Minassian is Fellow at the Groupe d'analyse politique Défense/Relations internationales/Sécurité, University Paris X-Nanterre.