Latest Articles about Economics
Oil Excavation Crisis in Cyprus Threatens Turkish-Greek Cypriot Negotiations
The U.N.-led peace talks launched by the Turkish Cypriot leader Mehmet Ali Talat and his Greek Cypriot counterpart Dimitris Christofias in September 2008 aiming to find a comprehensive solution to the Cyprus problem has entered a new phase. On July 20 at the Peace and... MORE
Moscow Pressures Hungarian MOL’s Russian Joint Venture
Whether by coincidence or design, Russian authorities are threatening to stop the Hungarian MOL company's oil extraction in Russia at the same time as Surgut Neftegaz appears to be forcing its way into MOL's ownership in Hungary (EDM, April 3, 6, 22, June 10, 24).... MORE
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
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
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
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
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
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
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
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