[link|http://news.bbc.co.uk/2/hi/europe/2355419.stm|BBC Q&A on Chechnya]. This map illustrates the geography of the region:
[image|http://news.bbc.co.uk/olmedia/460000/images/_460353_chechnya_caucusus2.gif|0|Caucauses|284|300]
Many of the rebels don't want to stop with Chechnya, and [link|http://news.bbc.co.uk/2/hi/europe/429735.stm|Dagestan] has already been a target. Caspian oil (routed through Azerbaijan) certainly is a strategic factor in the calculus on both sides.
Cheers,
Scott.