"...Heinrich's first - and, as historians would later acknowledge - most important move was to continue the policy of realpolitik towards Russia. Already boxed in by the Iron Triangle of France, Austria and Denmark, it was critical that Russia remain if not an ally then a true neutral party, and so Germany's offer of renewing the Reinsurance Treaty with St. Petersburg was surprisingly conciliatory - 10 years, rather than 3. It was met with relief in Russia, which had no conflict of interest with Germany and indeed shared a mutual desire to suppress Polish nationalism; the 1894 renewal of the treaty led not just to an acknowledgement in both governments that they had secured another decade of predictable relations but for the first time a large expansion of trade, even with Germany's high grain tariffs in place. Germany, which had maneuvered the Panic of 1890 better than nearly another other nation and was undergoing considerable growth, was able to make small but targeted investments in Russia as Britain and France recovered more slowly; the Berenberg Bank's holdings in Russia grew tenfold, with healthy profit, by the end of the century. To Chancellor Hohenlohe, a liberal who personally detested Russian autocracy, there were more pragmatic reasons for flattering the Tsar, Alexander III; he was married to a Dane, Maria Feodorovna (born Dagmar) who had her husband's ear and was an aunt of Britain's George V and more importantly sister to Denmark's fiercely anti-German Crown Prince, Frederick. Alexander, for his part, was happiest and most himself at annual family gatherings in Denmark, far from the strict security and "gilded prison" of the Russian monarchy. With a favorable persuasion toward the Danish nobility already, the worry at the German foreign office was of a Franco-Danish influence campaign seeking to persuade Alexander to stand against Germany, potentially even in a full alliance.
Russia, for her part, had its own reasons for wanting peace; the Narodnaya Volya attempted to assassinate Alexander shortly before Christmas in 1893, and though they were unsuccessful (one of the bombs exploded in the hands of the would-be assassin, alerting the Tsar's entourage and allowing him to narrowly escape a second package bomb thrown and avoid the grievous injuries that had nearly killed his father in 1881 and contributed to his death five years later), it triggered a wave of political unrest across the country, most prominently with a vast crackdown against Narodniks, most prominently with the hanging of thirty at once in central Moscow on Red Square, and the Great Pogrom of 1894, possibly the worst in Russian history, which killed upwards of 4,000 Jews and Poles and displaced as many as 75,000 people over the next few years, most of whom eventually settled in the United States, Mexico, Brazil or Argentina. 1893 also marked an important year in Russian geostrategy - the sunset clause of the Treaty of Berlin came into effect, ending the prohibition of it maintaining a fleet in the Black Sea. Alexander III, who had viewed the imposition of the original prohibitive clauses at the end of the Crimean War as a national disgrace, immediately endeavored to modify the "turn from Europe" that had moved Russian ambitions towards its vast Central Asian and Oriental frontiers and command massive amounts of treasure expended instead on a crash naval expansion program, with the vast majority concentrated in Odessa, Sevastopol and the Kuban. With exorbitant sums - and consequential exorbitant debt, much of it German - Russia could not afford army expansion or a hostile neighbor to its east.
The only sticking point between Heinrich and Alexander - who though very different men got along moderately well and did not have the same quiet personal animosity as Friedrich had had - was Romania, which had a Hohenzollern sovereign and heir, and had quickly abandoned the Russian line in 1878 after the debacle against Turkey to align instead with King Carol's Protestant cousins (Carol and his heir, his nephew Ferdinand, son of King Leopoldo of Spain, were of the Catholic Hohenzollern line) against Austria-Hungary, which had within its borders a substantial Romanian minority towards whom Bucharest's liberal intelligentsia harbored irredentist interests. Russia had never quite forgiven Romania's sudden about face after they had fought side by side, and though appreciative of German support at Berlin had long suspected family ties of winning out. For Heinrich, the solution seemed clear - while Romania remained a valuable friend to produce a check on Austrian interests from the east, he came to regard the small Balkan state as a potential shared sphere of influence, as a partner for Germany against Vienna and a partner for Russia to command the Black Sea..."
- Destiny Beckons: Rise of the German Reich