Europe and Central Asia are experiencing multiple parallel developments in their respective energy markets. Russian energy company Gazprom is currently fighting to safeguard its market share in Europe by pushing for new projects and diversifying transit routes. Russia provides about a third of the EU natural gas energy supply, about half of which is shipped…
Iranian state news agency IRNA reported on October 12 that the Iranian Parliament passed a bill supporting the country’s participation in the nuclear deal reached in July. The legislation approves Iran’s future fulfillment of stipulations in the Joint Comprehensive Plan of Action (JCPOA) negotiated between President Hassan Rouhani’s government and the P5+1 (China, France, Russia,…
The President of Belarus Alexander Lukashenko, who has been in power since 1994, won the presidential election on Sunday with higher than ever votes of 83.5%. The representative of the opposition movement, Tatiana Korotkevich received only 4.4% of the vote and the other two pro-governmental candidates an even smaller percentage. Opposition politicians and several hundred…
Four Russian cruise missiles intended for launch into Syria, landed in Iran instead. Russian officials hastily released a statement saying that the missiles did not cause any damage and instead focused on the 26 other missiles at 11 targets in northern Syria, reiterating that those hit all their targets. NATO members, in particular border nation…
Already, Iranian officials are planning for the new post-sanctions economic order, but many obstacles remain in their path. The first is the impact of low oil prices – which severely hampers the short term revenue that can be raised from re-entry into the global oil markets. The second is the sanctions relief schedule, which is…
President Almazbek Atambaev’s pro-Russian Social Democrats won the Parliamentary Polls this past Sunday, along with other loosely aligned parties to form the new government. With most votes counted, the Social Democrats won almost 27% of the vote, with the nationalist opposition party winning 20%. Parties that supported closer relations with Moscow all won more seats…
The Kremlin announced that Russian “volunteer” forces could soon join forces loyal to Syrian President Bashar al-Assad on the battlefields of Syria. Russia has publicly supported the Assad regime for years and recently amplified its support for the regime through airstrikes purportedly directed at extremist militias in the county. The latest announcement augurs a potential…
Kazakhstan’s currency, the tenge, has the ignominious honor being the world’s most volatile currency this year after the free-float shift in August caused a record devaluation of some 23%. The governor of the Central Bank, Kairat Kelimbetov, has struggled to keep the value relatively stable since the devaluation, using the overnight repurchase rate as a…
A new report published by the World Bank predicts that capital outflow from Russia will ascend to $113 billion in 2015 and $82 billion in 2016. The report also lowered its forecast for the decline in Russian GDP in 2015 and 2016. The bank now believes that the Russian economy will retract by 3.8 percent…
The Reserve Bank of India cut its policy interest rate to a new low yesterday, a larger than expected move, in a bid to turn the economy around and promote growth. The RBI has been in a race with China to cut its rates pre-emptively, and to keep its rates low while US federal funds…
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