The "Black Sea region", widely defined as the area covered by the eleven states participating in the Black Sea Economic Cooperation Area BSEC and the main states around the Caspian Sea, Kazakhstan and Türkmenistan, became one of the new scopes rediscovered within the realities of the post-Cold War period. In the Black Sea and Caspian regions, the strategic interests of the global actors form a complex picture vvith the economic interests of multinational companies, the national interests of regional powers as well as traditional international security alignments and domestic politics. Active participation in the contemporary "Great Game" around the Caspian oil is an important challenge for each state of this region in search of developing its own foreign and security policy priorities. This article aims to analyse the different points of view on the concept of the "Black Sea Security Zone