Years of hand-wringing and chest-thumping over the future status of Kosovo may finally be drawing to a close. In the next few months, adroit diplomacy to secure Kosovo’s independence could yield a victory for Muslim democracy, a better future for south-east Europe and validation for the judicious use of American power.

But along with the potential for triumph in Kosovo, there is a growing risk that Serbia and Russia will conspire to seize defeat from the jaws of victory. Extremists in Belgrade and Moscow are – for very different reasons – hoping to use Russia’s United Nations Security Council veto to quash Kosovo’s bid for independence. If they succeed, the Balkans will emerge as another source of bad news in a world already crowded with crises.