Iraq is one of the reasons for the sharp decline in U.S. power worldwide and the increase in Russia's influence overseas. That's the findings of survey by U.S. based consultancy, Denver Research Group Inc.

As a result of Washington making what it calls ‘a range of mis-steps’, a giant power vacuum has formed, and countries such as Russia, China, Iran and Venezuela are stepping into it.

The survey also suggests Russia and China are leaders in forming critical energy alliances in Central Asia, in the Caucasus, in Africa and even in South America.

The study concludes that the U.S. no longer guides the world because Russia and China exercise power more effectively.

The observation is presented in a midrange forecast made by the Denver Research Group as part of its Global Power Barometer project – an online day-to-day analysis of how world’s nations, ideologies and political movements perform. The company prepares its reports for the Washington Post newspaper and Newsweek magazine.

The research group says it tracks thousands of news media, academic and government sources to see how well global players use power to advance their policy goals.