As South Caucasus states pursue policies of geopolitical balancing, Russia's position in the region is likely to remain stable in the near term. However, Moscow's influence is still on a trajectory of decline in the years ahead, creating opportunities for increased economic activity for China, Turkey and the West. Recent actions by Georgia, Armenia and Azerbaijan show how they are adjusting their foreign policies to balance global and regional powers. On Feb. 4, Armenian Prime Minister Nikol Pashinian gave a speech at the Atlantic Council in Washington, D.C., outlining his vision for closer relations with the United States and calling on Washington to facilitate its peace talks with Azerbaijan. On Feb. 7, Pashinian met with Vice President J.D. Vance to discuss Armenia-U.S. bilateral relations and the South Caucasus regional agenda. Meanwhile, on Feb. 6, Azerbaijan announced the end of the activities of Russia's civilian foreign aid and cultural organization, Rossotrudnichestvo,...