Abstract. The Karabakh war of 2020 has completely changed the situation in the Southern Caucuses. The article discusses main reasons for the success of the Azeri army and the key role of Russia in stopping the warfare. The dislocation of the Russian peace mission in the conflict zone has created conditions for a nonviolent resolution of the Karabakh problem. To reach a mutually acceptable compromise will take a lot of time and effort from both Azerbaijan and Armenia, as well as from those countries who are interested in the stability and security of the Southern Caucuses. However, the difficult relationship of the neighboring Russia, Iran and Turkey, as well as the contradictions in the relationship between Russia and the «collective West» will continue to hinder the peace process and cause a detrimental impact on the situation in the region.