Among the conflicts in the South Caucasus, the Armenia-Azerbaijan Nagorno-Karabakh conflict is undoubtedly the most complex, as well as the most dangerous conflict. It holds the most serious security and humanitarian implications not only for the South Caucasus, but also for the whole Eurasian region. The 23-year-old peace process, led by the OSCE Minsk Group, has so far failed to deliver peace and stability to the region. Impeded by problems such as lack of commitment, focus on conflict management instead of conflict resolutions, intergovernmental nature and rotating chairmanship of the organization, the OSCE is failing to address the resurgence of violence in this simmering conflict. Taking advantage of the shortcoming of OSCE Minsk Group’s peace efforts, Armenia has refused to make any compromises for the sake of peace. During the recent negotiations in Vienna and St. Petersburg, the presidents of Azerbaijan and Armenia agreed on the phased resolution of the conflict, creating hope that the deadlock would be broken and the peace process would be reactivated. However, the danger remains that if the peace process fails again, the resumption of violence will become inevitable and renewed war will have serious regional and global repercussions.