In Europe, Kazbek is the second highest volcano. It lies on the border of Russia and Georgia, whose European status is sometimes disputed, although Kazbek lies entirely on the European side of the Caucasus watershed. The river Terek rises to the south and west of Kazbek but drains northwards to Russia.ven if this continent is defined instead as Oceania (thus adding New Zealand and Polynesia including Hawaii), Giluwe remains the highest volcano since it exceeds the elevation of Mauna Kea in Hawaii and any volcano in New Zealand.