What happens in the Black Sea does not stay in the Black Sea. The region’s status as a crossroad linking Europe, Asia, and the Middle East is its most important advantage—and its greatest risk. It is the region with the highest density of protracted conflicts. Civil wars causing major migration flows are occurring at its doorstep. Disruptive security challenges in the Black Sea ripple immediately into Europe’s core, Russia, the Caucasus, and the Middle East. Security and stability in the Black Sea are crucial for the Balkans, Russia, the Levant, and Central Asia.