Welcome to the Caspian Daily, where you will find the 10 most important things you need to know on Caspian Sea Region. We appreciate ideas, reports, news and interesting articles. Send along to Caspian[at]moderndiplomacy.eu or on Twitter: @DGiannakopoulos
1“Those favouring the deal were mostly Shia muslims. They suggested that a better relationship between Iran and the United States would improve security in their own country, where competition between US-backed Sunni and Iran-backed Shia proxies often contributes to instability. Detente between Iran and the United States – Iraq’s two strongest allies – could allay sectarian conflict and unify resistance to the Islamic State, their argument goes.” [the guardian]
2Why Vladimir Putin’s ‘gas weapon’ may be his most powerful foreign policy tool. “Gazprom is first and foremost a tool of Russian foreign policy, which Putin is not shy about wielding to pursue Russian interests. During Putin’s years in power, the Kremlin has used its control over Gazprom — increasing or decreasing the cost of energy — to maintain influence over Russia’s neighbors. Putin once described Gazprom as “a powerful political and economic lever of influence over the rest of the world,” and a team of Russian foreign policy experts noted that “if the leaders of this or that country decide to show good will towards the Russian Federation, then the situation with gas deliveries, pricing policy and former debts changes on a far more favorable note to the buyer” writes Josh Cohen for Reuters.
3Kazakhstan Formally Joins WTO. The WTO General Council has approved oil-rich Kazakhstan’s membership, finalizing almost 20 years of negotiations. Kazakh President Nursultan Nazarbaev was present at the formal acceptance event at WTO headquarters in Geneva. Kazakhstan has agreed to lower import tariffs and take further steps to attract more foreign investors.However, Kazakhstan’s domestic industrial and agricultural production levels remain relatively weak, as the country mainly relies on its oil revenue.Experts say domestic firms may struggle if the market is flooded with foreign goods once the WTO terms are implemented.Kazakhstan began WTO accession talks in 1996, but negotiations were repeatedly stalled, in part because of Kazakhstan’s membership in the Russia-led Eurasia Economic Union.
4What Does Greek Crisis Mean For Azerbaijan’s Energy Interests? The near collapse of Greece’s economy has raised pressing questions for energy power Azerbaijan, which had viewed the country as a potential turbo boost for its energy ambitions in the European Union. Now, as Athens cleans house financially and talks deeper energy ties with Russia, Azerbaijan, which has an agreement to purchase a majority share in Greece’s gas distribution network, needs to protect its own interests, energy analysts say. [EurasiaNet]
5Iran and Turkmenistan signed a couple of MoUs to boost cooperation in economic, cultural, and educational areas. The documents were signed by Iranian Transport and Urban Development Minister Abbas Akhoundi and Turkmen Foreign Affairs Minister Rashid Meredov at the end of the 14th Iran-Turkmenistan Joint Economic Committee Meeting, which was held in Tehran on July 27, Iran’s IRNA news agency reported. During the meeting, the Turkmen minister said Iran and Turkmenistan, as the two neighboring countries, will expand their bilateral, regional and international cooperation.
6The Russian Arctic: Potential for International Cooperation. The report looks into the network of circumpolar territories including new industrial regions on the Arctic continental shelf, analyses key goals of educational cooperation and identifies opportunities for international collaboration among small and medium-sized businesses in the Arctic. Authors present their vision for strategic governance in the Russian Arctic and inter-municipal cooperation in the coastal zone of the Russian Federation. Authors: A.N. Pelyasov, Dr. of Geography (Head); A.V. Kotov, Ph.D. in Economics. [RIAC]
7Azerbaijan, Iran to sign new agreement on electric power transmission. Iran’s Deputy Minister of Energy Houshang Falahatian intends to pay a visit to Azerbaijan.The objectives of the upcoming visit are to complete the conducted work on the synchronization of energy systems of the two countries and to sign a new treaty in this area, Falahatian told Trend.az.“The setting of electricity tariffs will be discussed at the meetings to be held in Azerbaijan,” he said. “Previously Iran and Azerbaijan have distributed all work on the synchronization of energy systems among themselves.The power plants and transmission lines have been built,” he said. “The infrastructure is fully ready. We hope that a final agreement will be reached and an agreement on the synchronization of the energy systems will be signed during this visit.”
8Russia is expected to see a positive growth of 2.3 percent in its economy next year, Russian economic development minister Alexei Ulyukayev said while addressing a joint meeting of Russian and Belarusian ministries of economic development held at the Belarusian port city of Brest on Monday.Ulyukayev based his assumption on the average oil price standing at $60 per barrel, Xinhua reported. The decline of inflation rate indicated improvement in Russian economy, predicting that inflation would slow down to 15.7-15.8 percent by August 1.”We think that the inflation rate will range between 10-10.5 percent at the end of this year, and according to the forecast of the Central Bank, by the end of the first quarter of 2016, it will be back to seven percent.”The minister was confident that the economic situation in Russia is getting better and the month-on-month recession is almost over.
9Ziraat Bank Azerbaijan has started its operation in Baku. According to sources in the bank, having the founding capital of AZN 50 mln, the bank has only one affiliate in Isherisheher. The activity of the bank will be aimed at strengthening the economy of the country and improving the foreign trade and development of economic ties with other countries.
10A look at Almaty’s bid for the 2022 Winter Olympics. The Central Asian city of Almaty is vying with Beijing to host the 2022 Winter Olympics. The winner will be selected Friday in a vote of the International Olympic Committee in Kuala Lumpur, Malaysia. Here’s a quick look at Almaty’s bid. [Washington Times]
