Latest Articles about Economics
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South Korea Grounds Its Position in the Central and East European Defense Market (Part Two)
*Read Part One here. The recently established military relationship between South Korea and Poland is a multidimensional phenomenon, reaching beyond security in its traditional meaning. In fact, large-scale arms contracts are almost always politicized and followed or accompanied by intensified economic ties. Certainly, in the... MORE
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Russo-Indian Economic Ties During Wartime: Oil, Currency and the Arctic
Following the launch Russia’s all-out war of aggression against Ukraine and growing international economic-political isolation, the Kremlin’s contacts with major regional and international powers have shrunk to three primary players: China, India and Turkey. Specifically, current and prospective ties are being cultivated between Moscow and... MORE
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Russia Seeks to Circumvent the Advancing Western Alliance in Africa
The broad coalition built last week for supplying main battle tanks to Ukraine signifies a new surge in strengthening the unity of the US-led Western alliance, and Russia has had no response to this upgrade. It will take a few months to train and equip... MORE
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Prospects for Ukraine’s Economy in 2023 Remain Cautiously Optimistic
Russia’s re-invasion of Ukraine in February 2022 took a heavy toll on the Ukrainian economy. Moscow focused on destroying the Russian-speaking industrial heartland in the southeast, displacing millions of workers, damaging crops, smashing the power grid and blocking exports from Ukraine’s seaports. As a result,... MORE
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Uncertain Political Consequences Hamper Proposed Russian-Kazakhstani-Uzbekistani Gas Union
In recent weeks, Russia, Kazakhstan and Uzbekistan have been hotly discussing the possibility of establishing a trilateral natural gas union among the three countries. The union, proposed by Russian President Vladimir Putin, is an alliance that aims to coordinate efforts to transport Russian gas through... MORE
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Will Abkhazia Become the ‘Georgian Monaco?’
On December 28, 2022, Georgian Prime Minister Irakli Garibashvili remarked that the breakaway Autonomous Republic of Abkhazia, which has been under Russian control since 1993, “has huge potential for turning into another Monaco and Abkhazian capital Sukhumi—into the new Monte Carlo” (Tabula.ge, December 27, 2022).... MORE
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The Skyrocketing Costs for Russia’s War Effort
The final deficit of the Russian federal budget for 2022 appeared to be 3.35 trillion rubles, almost $48.8 billion according to the average exchange rate during the year. Although, the ruble became a partially convertible currency after the beginning of Moscow’s aggression against Ukraine, and... MORE
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Capacities and Dimensions of Russian Investment in Iranian Oil and Gas Fields
On July 19, 2022, the National Iranian Oil Company (NIOC) signed a memorandum of understanding (MoU) with Russian gas company Gazprom worth close to $40 billion. The deal was signed by the CEOs of both companies during a virtual ceremony on the same day that... MORE
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Tensions Simmer in Belarus: Delusions, Sanctions and Actual Decision-Makers
If there is any leitmotif to the current developments in Belarus, it would be mostly rooted in attempts at socioeconomic survival while avoiding immediate participation in Russia’s war effort against Ukraine. It could be that the leitmotif for developments within the exiled opposition is lingering... MORE
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Azerbaijan Set to Become a Green Energy Supplier to the EU
In December 2022, Azerbaijan, Georgia, Hungary and Romania signed an agreement to build a strategic partnership in the field of green energy development and transmission (President.az, December 17, 2022). According to the document’s text, the four countries plan to work together in developing a 1,195-kilometer... MORE