One event that I have always watched has been the ongoing strife in Georgia, and her two break-away provinces Ossetia and Abkhazia. Things have definitely taken a turn for the worse there in recent days. Ossetia and Abkhazia have had defacto independence for nearly twenty years now, Georgia doesn't want, what it calls, it's territory broken up. Of course their are oil interests at stake here.
The fighting presented the most dangerous crisis in years in the Caucasus region, a key conduit for the flow of oil from the Caspian sea to world markets and an area where violent conflict has flared along the Russia’s outskirts for centuries, most recently in Chechnya.
It looks like Georgia has attacked Ossetia at this point in time, both by air and land.
" Georgian troops and warplanes pounded separatist forces around the capital of its breakaway South Ossetia region"With Russia threatening retaliation for the attack, as Russian citizens were killed in the attack.
This coupled with the virtual OK, given by Condoleeza Rice, for an attack on Iran, by Israel.
Makes a 3rd world war seem just on the horizon
Updated: Georgian army moves to retake South Ossetia
dramatic video available at story