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Since the outbreak of the Ukraine crisis, there has been much talk of a new Cold War between the West and Russia. Under Putin’s authoritarian leadership, Moscow is widely seen as volatile, belligerent and bent on using military force to get its way. In this incisive analysis, top Russian foreign and security policy analyst Dmitri Trenin explains why the Cold War analogy is misleading. Relations between the West and Russia are certainly bad and dangerous but - he argues - they are bad and dangerous in new ways; crucial differences which make the current rivalry between Russia, the EU and the US all the more fluid and unpredictable. Unpacking the dynamics of this increasingly strained relationship, Trenin makes a compelling case for handling Russia with pragmatism and care rather than simply giving into fear.