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While Central Asia remains a comparatively stable region, it faces various security challenges such as the risk of radicalization, terrorism, ethnic clashes, drugs traffic and spillover effects from Afghanistan. Moreover, it is increasingly becoming a contested area of influence between China and Russia. Security in the region is provided through a network of bilateral mechanisms as well as the major regional security organizations (CSTO and SCO). Due to Russia’s deteriorating economy and declining leverage on Central Asian states, the CSTO’s role is diminishing. Since the enlargement of the SCO, the question looms large whether the organization will be able to continue being a platform to mediate China’s and Russia’s interests. Both countries are reluctant to engage in a full-fledged multilateral cooperation preferring their own formats of security cooperation with regional states as well as with each other. This safety net, however, might turn out to be not strong enough.