The Middle East is a traditional sphere of interest for great powers due to its rich oil and gas resources and geostrategic position. At the same time, the situation in this region has always been quite explosive and controversial. During the last few years, most of the key regional players that were influencing the situation in the Middle East during the 20th century started to alter their approaches to the region and their ways of behavior. On the other hand, we are witnessing the growing influence of several regional actors, while traditionally influential states have found themselves in a rather complicated situation. Thus, new regional realities cause an escalation in the struggle for spheres of influence between the key players. The vulnerability of the situation caused by a lack of state control and security became fertile soil for the spread of new forms of terrorism and violence across the region. This article considers revolutions in the Arab world described as «the Arab Spring» or «the Arab awakening» and their effect on relations between main regional and world powers. It describes the ways great powers in their turn can influence or affect the processes in the Middle East. The main attention in this regard is paid to the role of the United States, the most influential power in the region. Its historical dominance and close ties with key players such as Egypt and Saudi Arabia used to be tenants of political balance in the region, but over the last decade this «frugal superpower’s» regional policy has been catalyzing terrorism and jeopardizing the clash between Shia and Sunni. At the same time, Russia as another traditional player in the region has been demonstrating a balanced position based on respect of the sovereignty of states and the right of peoples to choose their fate. Taking into account the current circumstances, that position proved to be wise. Russian efforts in enhancing ties with new governments and keeping relations with traditional authorities are efforts to promote stability and could be a good example for others. The article analyses the way new tendencies and old issues influence the balance of power in the Middle East. It evaluates the goals and real abilities of the key regional and world players, thus forecasting how the current situation may develop.