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After Maidan: Re-Starting NATO-Russia Relations 61<br />

number of issue areas and the Kremlin maintains its diplomatic<br />

mission to NATO, it might become difficult to restore any<br />

meaningful interaction without a comprehensive re-discussion of<br />

the roots of current grievances, leaving a number of former Soviet<br />

regions in an apparently ‘frozen’ but potentially explosive<br />

scenario. Are there any remedies or is a descent into a new Cold<br />

War a foregone conclusion? The question may indeed be a false<br />

one: NATO-Russia tensions, rather than the outcome of<br />

insurmountable divergences, are the consequence of conflicting<br />

strategic priorities that were inherited by current elites from the<br />

agreements that more than two decades ago brought the Cold War<br />

to an end 37 . While it is difficult to see how relations between<br />

Russia and the alliance might break this confrontational cycle<br />

without a comprehensive revision of that settlement, in the present<br />

circumstances it is unlikely that Moscow would seriously risk<br />

armed conflict with NATO over the fate, for example, of the<br />

Baltic States or of Eastern Ukraine 38 . Although significantly<br />

revitalized by the reform of 2008 and with no regional power<br />

capable of matching their might, the Russian armed forces<br />

continue to be plagued by serious organizational, logistical, and<br />

technical deficiencies and might be hard put to stand up to a full<br />

alliance engagement. Furthermore, the broader geopolitical and<br />

economic prospects for Russia remain uncertain. The Russian<br />

economy continues to rely heavily on the energy sector, which is<br />

responsible for two-thirds of export earnings and half of all tax<br />

revenue; in the current climate of depressed oil prices, Russia<br />

seems increasingly vulnerable. Despite the Kremlin’s rhetoric, at<br />

the beginning of 2015 the Russian economy appeared to be in<br />

free-fall, battered by the impact of Western sanctions, with the<br />

value of the ruble collapsing, rocketing interest rates, and<br />

worrying falls in energy revenues 39 . As President Putin remarked<br />

37 M. De Leonardis, “La NATO dopo il vertice di Newport: ritorno al passato?”,<br />

presented to the conference “La NATO da ‘vigilant and prepared’ a ‘deployed out<br />

of area’: un viaggio andata e ritorno”, Università Cattolica del Sacro Cuore, Milan,<br />

21 April 2015, unpublished.<br />

38 “What next in Russia’s ‘near abroad’?” (2015).<br />

39 Ibid.

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