The 2025 Azerbaijan–Armenia peace deal, announced in Washington, ends decades of war over Nagorno-Karabakh, commits both nations to mutual recognition and non‑aggression, and launches the U.S.-developed TRIPP corridor linking Azerbaijan to Nakhchivan. This comprehensive analysis traces the conflict’s history, details the treaty’s terms, compares it to other landmark peace agreements, and examines what comes next for the South Caucasus.