This chapter seeks to explore the intricate interplay amongst the countries in the wider Black Sea area. Studying the dynamics of cooperation and confrontation among the states, which are the recognized driving forces of the regionalism in the area, will contribute to our better understanding of the region. Realizing that one chapter cannot cover each and every aspect of the phenomenon of Black Sea regionalization, the key focus is analysing the contemporary stage of the regionalization process in this ever changing part of the globe and the possible implications for the debate on ‘new regionalism’. The Organization of the Black Sea Economic Cooperation (BSEC) is currently under-represented and underresearched, as an example of importance for International Relations theory.