Transition to pragmatism in the region, but fundamental risks remain

Summing up the results of 2025, we can state: the region has experienced a unique set of events - from the intensification of negotiations and preparations for the formalization of agreements between Armenia and Azerbaijan to the strengthening of economic initiatives in transport logistics and outbreaks of internal political instability in individual countries. Positive: promoting conversations about corridors, increasing tourism in Armenia, major humanitarian exchanges, negotiations on logistics. Risks: pressure on religious and human rights institutions, economic uncertainty due to external sanctions and logistics restrictions, prolonged local incidents on the border. Stability will require a combination of: political will to implement agreements, guaranteed security mechanisms, economic support and programs to restore trust within societies. If this does not happen, 2026 could become a test year for the strength of the agreements reached.