Earlier this year the Russian leader [Putin] approved a seven-year, $200-billion rearmament plan to build planes, missiles and ships. Did the Cold War sneak back? Thankfully, no. Should the United States be worried about a new Russian threat? Yes. While the probability of direct military conflict between Russia and the U.S. is very low. At the same time, an autocratic, anti-Western Russia poses serious trouble for America and its allies. Putin's Russia sells military equipment to Syria, Iran, China and Venezuela. A Russia less constrained by Western values, institutions or opinion might be tempted to pursue even more provocative policies.