In this chapter, we investigate Moldova’s power and agency as a small state, looking at its post-1945 geopolitical history, great powers’ interests in Moldova, and Moldovan ability to navigate among them. Since the 2020s, Moldova’s geopolitical power has significantly risen owing to the Russian full-scale war in Ukraine and Chisinau’s pro-European foreign policy course. Despite these conditions, Moldova’s power and agency remains prone to change due to unstable domestic policy, political Russian influence on Moldova’s political elites, and polarization of society concerning the accession to the EU. We build our argument primarily on qualitative analysis of the first- and second-hand data, referring to quantitative data where appropriate. We also ground the analysis in the analytical frames of Tom Long’s theory and types of small states’ power and neoclassical realism.