In the post-2000 period, Russia's relations with the former Soviet geography, or its “near abroad,” are dominated by such issues as energy, namely the dependence of the surrounding countries on Russia, changes in the trade patterns and the impact of globalization, the fight with terrorism, entrenched ethnic conflicts, and the enlargement of Western structures including NATO. In this general framework, the Caucasus has had a special importance for Russia due to its geopolitical and strategic position at the crossroads of energy transit lines, the existence of rich energy resources and the complexity of its ethnic structure. This article aims to analyze Russian Federation's Caucasus policy in a comprehensive manner.