Latest Articles about Economics
![](/wp-content/uploads/2016/03/Sad_lukashenko.jpeg)
Belarus: Economic Woes and the Fate of Gloomy Predictions
In January 2016, Belarus’s gross domestic product (GDP) was 4.3 percent lower than in January 2015 (Infofocus, February 2016). Since refined oil accounts for one-third of Belarusian exports, the steep decline in oil prices is the major factor explaining this shrinking GDP. It works directly,... MORE
![](/wp-content/uploads/2016/03/Astana_-_EDM_March_10__2016.jpg)
Kazakhstan to Host Offshore Yuan Center
Many observers both inside and outside Central Asia have noticed China’s rising economic influence there, supplanting the region’s traditional hegemon, Russia. In yet another sign of China’s growing economic clout in Eurasia, Astana International Financial Center governor and former National Bank chairman Kairat Kelimbetov announced,... MORE
![](/wp-content/uploads/2016/03/Grozneftegaz_-_EDM_March_10__2016.jpg)
Chechnya’s Planned New Oil Refinery Marks a Victory Over Rosneft
Many analysts say the two wars in Chechnya in the 1990s were caused by the republic’s oil. These analysts, however, have tended to overlook the fact that Chechnya no longer had prospects as an oil extracting region by the time the wars started. Chechnya’s oil... MORE
![](/wp-content/uploads/2016/03/aliyev_and_rouhani.jpg)
The Economic and Geopolitical Implications of Iran and Azerbaijan’s Recent Engagement
On February 23, Azerbaijani President Ilham Aliyev visited Tehran, where he met with his Iranian counterpart, Hassan Rouhani. Notably, the two presidents signed 11 memoranda of understanding (MoU) across several areas of cooperation, including energy, the economy and transport (IRNA, February 23). But the timing... MORE
![](/wp-content/uploads/2016/03/Chinese_President_Xi_Jinping_meets_with_Iranian_Supreme_Leader_Ali_Khamenei_in_January_Xinhua.jpg)
China and Iran Expand Relations After Sanctions’ End
January 16 marked the highly anticipated implementation of the nuclear accord signed between Iran and the five permanent members of the UN Security Council plus Germany (P5+1) known as the Joint Comprehensive Plan of Action (JCPOA). The occasion was hailed by China as an important... MORE
![](/wp-content/uploads/2016/03/Russian_economy_-_EDM_March_7__2016.jpg)
Russia Is Giving up on Its Tragedies—and on Itself
President Vladimir Putin’s approval rating is regularly accepted as a proxy measure for the level of Russia’s internal cohesion. And his support remains on a sky-high plateau, where it has stood since the explosion of jingoism caused by the annexation of Crimea in March 2014... MORE
![](/wp-content/uploads/2016/03/Socar_oil_field_-_EDM_March_4__2016.jpg)
Falling Oil Prices and Its Implications for Azerbaijan’s Gas Policy
On February 23, Azerbaijan’s parliament adopted amendments to the state budget to adjust down expected budget revenues based on oil price estimates of as low as $25 per barrel (Azernews.az, February 23). Initially, the State Budget for 2016 projected oil at $50–55/barrel (Trend, September 14,... MORE
![](/wp-content/uploads/2016/03/Kremlin_meeting_with_oil_execs__March_1_-_EDM_March_3__2016.jpg)
Fighting to Survive Budget Contraction, Kremlin Tries to Fix Oil Prices
On March 1, President Vladimir Putin gathered the CEOs of Russia’s oil majors in the Kremlin to discuss a possible freeze of crude production to boost oil prices. Oil is Russia’s main export commodity and the main source of state revenue. Putin commended the “healthy... MORE
![](/wp-content/uploads/2016/03/putin_and_Atambaev_EEU_summit.jpg)
Eurasian Union’s Expansion Falters Amid Russia’s Economic Woes
In a recent interview with the media, Kyrgyzstan’s Deputy Prime Minister Oleg Pankratov, whose portfolio includes overseeing the country’s membership in the Eurasian Economic Union (EEU), reported that the Kyrgyz Republic’s accession (as of August 12, 2015) to this Russian-led trading bloc has so far... MORE
![](/wp-content/uploads/2016/02/Lukashenka_Normandy_Four_-_EDM_February_24__2016.jpg)
Why Sanctions Against Belarus Could Not Stand
The removal of the sanctions on Belarus by the European Union continues to be one of the most debated topics in the Belarusian media. The most meaningful piece about sanctions, however, has arguably shown up not in Belarus but in the Russian daily Izvestia (Izvestia,... MORE