If not by tanks, then by banks? The role of soft power in Putin's foreign policy

This article considers the benefits of the recently developed concept of 'soft power' in understanding Russia's foreign policy. It argues that claims that Moscow is exercising a form of soft power imperialism in the former Soviet region cannot be fully supported by the existing evidence. To differentiate between the imperialist and stabilising objectives of Russian foreign policy the article analyses the Russian domestic discourse on exploiting soft power in foreign policy. It then compares the views of different schools of thought with Vladimir Putin's philosophy and foreign policy record. Finally, it selects for closer investigation Russia's policy in the Caucasus.