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the energy front, affairs are becoming increasingly heated. By last estimates, Russia provides approximately a third of the natural gas and oil that Europe requires to function normally on a day to day basis. In response to the diplomatic pressure that Russia can exert, as shown by the gas wars with Ukraine, the European Union decided to expend energy and resources towards the development of renewable resources. By 2020, approximately a fifth of Europe's energy needs to come from renewable sources.

The EU's initiative, however, has been soured repeatedly, and the most recent case is the project for a pipeline, dubbed South Stream, to pass from southern Russia, under the Black Sea, and into Bulgaria, where it splits off to supply the Western Balkans and Central Europe with natural gas. Bulgaria ratified the contract in January of 2008, thereby taking advantage of its own geographical position, and also challenging the EU's energy policy. The South Stream project has rendered Nabucco, the EU's own proposition in carrying natural gas from central Asia, in order to diversify its energy sources and avoid becoming dependent on Russian oil and gas, has been turned economically unfeasible. The other project for which there is much opposition in Europe, is the pipeline between Bourgas and Alexandropolis. Russia holds a majority stake in the pipe, while Bulgaria and Greece split the smaller stake equally amongst themselves. It will carry oil and supply tankers in the Aegean with cargo, destined for the rest of the world.

So far, we've seen the confrontation between East and West escalate both in military and economic means. In today's globalised world, a Cold War will be of a different nature. Instead of ideological confrontation, it will be entirely a battle of interests, economic and military, in a complex diplomatic tango between the superpowers, as the American one is entering a low period, and Russia is resurgent once again.

A final indication of the riled tone of conversation is Iran. In essence, the quarrel is because of Iran's nuclear program. Washington obtusely states that Tehran is pursuing nuclear weapons and financing terrorists in Iraq. On the other hand, the Persians insist that they are developing nuclear power for civil purposes only, but the twist of it is that they are doing it in collaboration with Russia. Iran is a member of OPEC, and one of the world's top exporters of oil. In another matter, Iran also controls the strait of Hormuz,where it is reputed

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