Latest Articles about Economics
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Azerbaijan Boosts Implementation Prospects of Nabucco Inter-Governmental Agreement
The inter-governmental agreement (IGA) on the Nabucco project, signed on July 13, depends existentially on Azerbaijan for start-up and first-phase gas supplies. Azerbaijan remains a staunch supporter of Nabucco and other components of the E.U.'s Southern Corridor project, but not an unconditional supporter to be... MORE
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Russian “Water,” Machismo and National Decay
One traditional resource which Russia has valued beyond hydrocarbons and land is vodka, the nation's traditional moral and physical painkiller. Nikolai Kostomarov, a nineteenth century Russian historian, wrote that at the dawn of Russian history a feast was a major social event, with the goal... MORE
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IMF Confirms Sharp Contraction in the Ukrainian Economy
The International Monetary Fund (IMF) completed the second review of its stabilization program for Ukraine on July 10. A visiting IMF delegation recommended that the IMF board grant Ukraine the third $3.3 billion tranche of the $16.4 billion stand-by loan. Kyiv received the previous two... MORE
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Medvedev Aims to Squeeze the Dollar in Partnership with China
Moscow and Beijing have hailed what they describe as a bilateral strategic partnership, but Russian and Chinese state-run energy companies struggle to agree to a compromise on energy prices. Both sides insisted that the visit by China's President Hu Juntao to Russia on June 16-18... MORE
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The Dacha: Russia’s Retreat, Soul Saver and Key Food Supplier
The Russian word "dacha" loosely means "country house." The dacha concept, however, is much broader than that. It personifies both the Russian way of life, and the Russian dream, if there ever was one. Dachas come in different shapes and sizes, ranging from summer wooden... MORE
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Ankara Approves Nabucco Following High Level Visit to Moscow
Ankara has reportedly finally given the green light to the Nabucco project, and the intergovernmental agreement might be signed on July 13. When the news broke on the Russian deal with Azerbaijan (EDM, July 2), the Turkish media initially suggested it represented a lethal blow... MORE
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Is Bakiyev a Reliable Partner?
During his four-year reign the Kyrgyz President Kurmanbek Bakiyev has behaved unpredictably both in domestic and international policy. Domestically, the president alienated most of his former supporters by gradually stripping them of power. Internationally, Bakiyev has maneuvered around the issue of the Manas airbase, where... MORE
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Azerbaijan-Russia Gas Agreement: a Wakeup Call to Brussels and Washington
Meeting in Baku on June 29, Azerbaijan's President Ilham Aliyev and his Russian counterpart Dmitry Medvedev witnessed the signing of an agreement on Azerbaijani gas deliveries to Russia. The initial volumes are small, but the agreement as such is a powerful reminder that the Western-backed... MORE
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China to Increase Gas Imports From “Economically Complementary” Turkmenistan
Chinese demand is voracious for Turkmen gas. Russia's import stoppage (see above article) can only strengthen Turkmenistan's motivation to start exports to China on schedule in early 2010. With Russia demonstrating its unreliability as a gas importer (let alone supplier to others), Beijing is using... MORE
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Gazprom Stays the Course Under Putin’s “Manual Management”
Russian energy super-giant Gazprom has taken severe blows in the still-deepening recession, and the worst setbacks have happened in its most profitable market - the European Union. Various assessments show that the volume of its export to Europe shrunk by 35-40 percent in the first... MORE