Romanian Principalities under Phanariotes rulers (humble slaves of the Sultan in Istanbul, but powerful sovereigns in Wallachia and Moldova) will become, in the late XVIIIth century – beginning of the XIXth century – during a fascinating epoch, which prepared the transition to Romanian modernity – subjects of territorial dispute and buffer-states between the great neighbouring powers. And the destiny, as well as the political career of important Phanariotes rulers (Alexander and Constantine Ypsilanti, etc.), which were involved in the Russo-Austrian-Ottoman politico-military disputes, has ended, finally, with their emigration to the Russian or the Habsburg Empire. The „Russian period" in the life of Prince Ypsilantis is directly tied to the evolution of the Russo-French-Turkish relations, and namely the resolvation of the Eastern question in 1807-1812. The rumours of Prince Ypsilantis „exile" (1807-1816) were not too far from reality, as they corresponded to his own definition of his situation. Based on our many years’ researches (in archives and libraries of Moldova, Romania, Russia, Greece, Poland, France, etc.), which were crowned with publishing a series of articles and monographs, we reached to the conclusion that the history of foreign policy of the Romanian Principalities is actually the history of ties between the families of Phanariotes princes and the great powers of that time (primarily highlighting the personality of rulers of the Romanian Principalities – Constantine Ypsilanti), and this history is as contradictory, as is little known to many readers and even to some historians, representing, de facto, a distinct period in the history of South-eastern Europe.