Remember Russia? The government in Moscow no longer commands the international respect -- or fear -- that it did during the Cold War days, but a decade after the collapse of its empire, Russia appears ready for a comeback. President Vladimir Putin has revealed a deft touch at home and abroad, besting adversaries and winning new friends. The much maligned economy is regaining its feet, a recovery that has been fueled by surging energy exports.

In short, the foundation for a Russian resurgence is being laid. Domestic terrorism or a foreign-policy miscalculation could undermine the progress that has been made, however. Critical to Russia's future is an understanding of where its national interests lie: consolidating the rule of law at home and casting its lot with the West rather than acting as an independent force in foreign affairs.

After the tumult of the Yeltsin era, Russia has stabilized under Mr. Putin. A relatively unknown quantity when he took office, the Russian president has proven to be a capable leader and politician. He has marginalized the domestic opposition, despite a number of incidents -- including the Kursk submarine disaster and the Chechen hostage drama in a Moscow theater -- that could have damaged his popularity. He has projected the image of a man of action and a man of the people, a marked contrast to the mostly sclerotic leaders of the Soviet era.