More than five years after the beginning of the Arab Spring, the geopolitical situation in the Middle-East has significantly changed. This paper briefly analyzes Israeli perceptions of the changes in the region over the last several years and provides an overview of the newly emerged security challenges that Israel must cope with, including threats from ISIS, terrorism, war in Syria, and tensions in Lebanon and the Sinai. The Jewish state has always been under threat. However, its enemies have changed and new players have emerged. In light of these shifts, we look at the ways in which the Jewish state might rethink its defense doctrine, but above all, we examine how Israeli authorities and strategists feel about Russia’s “arrival” (since its intervention in Syria in fall 2015) and Iran’s “return” (following the nuclear agreement signed on July 14, 2015) to the Middle Eastern and international stages.