Nikol Paşinyan won Armenia’s recent elections, prompting analysis of the result’s impact on regional powers Turkey and Azerbaijan. Post-Karabakh conflict, attention now focuses on Paşinyan's next steps regarding peace negotiations with Baku and normalization of relations with Ankara. Regional transportation projects are also expected to be a priority. The key question is how Paşinyan will leverage his renewed mandate to navigate these complex issues. This victory potentially allows for a shift in negotiating positions. Observers are keen to understand how this new political space will be utilized to reshape the South Caucasus dynamic. The outcome holds considerable significance for regional stability and future cooperation.