South Caucasus (also referred to as Transcaucasus), is a region situated to the south of the Greater Caucasus Mountain Range, composed of Georgia, Azerbaijan and Armenia. Due to the rich oil reserves of the Caspian Sea basin and geostrategic importance of the Caucasus as a crossroad between Europe and Asia, this region has always constituted a pole of attraction for the great powers of the world after the collapse of USSR. Not only neighboring countries like Russia, Iran, Turkey and Central Asian states (Kazakhstan and Turkmenistan), but also the United States, European Union and China are becoming actively involved in this region. Thus, while Armenia has been allied with Russia and Iran, considering these two powers as a counterweight to Turkey - its main enemy in the region, Azerbaijan and Georgia have developed geostrategic alliance with Turkey, and the United States by promoting cooperation with NATO member countries. Moreover, the conflict in Nagorno-Karabakh had deprived Armenia of the possibility of cooperation with other South Caucasian states. Armenia, which bases itself mainly on the relationship with Russia, believes that maintaining good relations with Iran is vital in terms of its national security, therefore, Armenia encourages active presence of Iran in the region. Meanwhile, Azerbaijan and Georgia, which have developed geo-economic relations between them in course of time and expanded strategic partnership with Western democracies, particularly through the NATO alliance, put forth their best efforts in order to leave the sphere of influence of Russia