This analysis explores the strategic realignment currently underway between Armenia and Turkey. After decades of frozen borders and historical enmity, recent diplomatic efforts suggest a potential breakthrough aimed at economic integration and regional connectivity. However, the article highlights the divergent motivations behind this process: Yerevan seeks a pivot toward the European Union as it distances itself from Russia, while Ankara views normalization as a tool to consolidate its position as an indispensable regional hub. We assess the persistent risks—including Azerbaijan’s unresolved territorial demands, the limitations of Western security guarantees, and the shadow of Russian influence—that continue to complicate Armenia’s efforts to establish a durable path toward stability. Ultimately, this piece questions whether normalization offers a genuine escape from regional dependency or merely replaces one set of structural vulnerabilities with another.