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The Third Artsakh war demonstrated the transformation of the geopolitical environment in the South Caucasus. In this context, the article aims to identify the main potential scenarios of the geopolitical future of Artsakh. To achieve this goal, the following tasks are being solved: to reveal the main actors of these transformations and to analyze their interests in the region. In particular, such actors as Russia, USA, EU and China are considered. Along with this, the factor of Turkey is discussed in the context of the concept of the growth of "middle powers" in modern international relations. The work is based on the method of analyzing actors and interests, as well as constructing potential scenarios. Taking into account the transforming strategic environment in the South Caucasus, the author offers four scenarios for the geopolitical future of Artsakh: 1). maintaining the status quo, 2). the entry of Artsakh into Azerbaijan, 3). the exchange of territories between Armenia and Azerbaijan, and 4). strengthening Artsakh, restoring its territorial integrity and further integration with the Republic of Armenia into a single Armenia. Based on the above, the author comes to the conclusion that the most optimal scenario not only for Armenia and Artsakh, but also for regional stability and security in the South Caucasus and beyond is the strengthening of Artsakh, restoration of its territorial integrity and further integration with the Republic of Armenia into a single Armenia.

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The article introduces the prospects of cooperative co-existence for Russia and the European Union in former Soviet republics within the current confrontation paradigm. It describes their foreign policies, strategies, and interests in the post-Soviet space. The author applied discourse and case-study analyses to the case of Armenia. The authentic idea of cooperative co-existence was projected on the relations between Russia and the European Union in post-Soviet countries. In Armenia, cooperative co-existence could be a win-win strategy, beneficial for all actors involved. The case of Armenia proved the possibility of a collaborative co-existence between Russia and the European Union in the post-Soviet space, the risk factors being the policies of small Caucasian states, the USA, China, and Turkey.