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
1One of the biggest mysteries in the oil market surrounds just how much oil Iran is hoarding at sea. That’s a key question because Iran’s nuclear deal with the West could lift crippling sanctions, and pave the way for tons of Iranian oil to hit the market. A surge in Iranian exports would only deepen the oil supply glut that has sent prices to fresh six-year lows this week to below $43. Maritime surveillance firm Windward has harnessed sophisticated technology to determine Iran is actually hoarding 50 million barrels of oil. That’s up nearly 150% from April 2014 when Windward started tracking this closely-watched metric. “That means when sanctions are lifted, there is going to be a flood of crude hitting the market because boy could they use the money,” said Tom Kloza, chief oil analyst at the Oil Price Information Service. It’s important to remember the oil hiding at sea is ready to be shipped to a buyer — likely in Asia — at a moment’s notice. It’s already been pumped out of the ground, cleaned up and processed. [CNN]
2Why we disagree with Chuck Schumer on the Iran deal. “Rejection of the agreement would severely undermine the U.S. role as a leader and reliable partner around the globe. If Washington walks away from this hard-fought multilateral agreement, its dependability would likely be doubted for decades.Rejection would also destroy the effective coalition that brought Iran to the negotiating table. China and Russia would likely resume trade with Iran. U.S. allies, unsettled by Washington’s behavior, would move their own separate ways.The other five negotiators would likely have little stomach for going back to Iran “for a better deal.” The ambassadors of the five countries recently assured members of Congress that their governments would not return to the negotiating table should Washington reject the agreement” Richard Lugar and J. Bennett Johnston for Reuters.
3Russia has extended its list of countries subject to a food import ban in retaliation for Western sanctions over the Ukraine crisis. Prime Minister Dmitry Medvedev said the ban would now apply to Iceland, Liechtenstein, Albania and Montenegro. He said Ukraine would be added in 2016 if an economic agreement between Kiev and the European Union came into force. Speaking at a cabinet of ministers on Thursday, Aug 13, the PM said Iceland, Liechtenstein, Albania and Montenegro would also now be affected because they had joined EU sanctions against Russia.”Joining the sanctions is a conscious choice which means readiness for retaliatory measures from our part, which have been adopted,” Medvedev said in comments broadcast on state-owned channel Rossiya 24.
4Kazakhstan has seen an increase in oil and natural gas production in January-July 2015, the country’s Statistics Committee under the National Economy Ministry reported. The production of oil, including gas condensate, increased by 0.7 percent to reach 47 million tons in the reported period.The committee also said that the production of gasoline decreased by 2.8 percent to 1.6 million tons, and diesel fuel by 2.7 percent to 2.7 million tons in the first seven months of 2015. Energy-rich Kazakhstan produces oil mainly from its largest fields – Karachaganak and Tengiz.
5The new industrial zone in the Akhal province of Turkmenistan contains the production of materials and articles for construction industry, including glass, armature boards, paint and paint products, polyurethane products, hoisting slings, decorative stone, composite panels, hardware, electronic components, furniture, doors and windows, and packing containers.The implementation of the new industrial objects by the Turkmen Union of Industrialists and Entrepreneurs will create over 10,000 new jobs.
6The success in the negotiation process over the resolution of the nuclear dispute between the West and Iran and the positive developments following it, have lead to a boom in Iran’s tourism sector. Iranian officials have released recent figures showing an increase in a number of the people visiting the Islamic Republic, especially from Europe. Iran is seen as one of the world’s top potential tourist destinations, as it contains a countless number of ancient sites. The country ranks fourth in Asia and first in the Middle East in terms of the number of world heritage sites, with an impressive 17 historic sites that have been added to UNESCO’s World Heritage List.
7Azerbaijan’s next Parliamentary elections will be in the fall of 2015.Many political parties and groups have already expressed their wish to participate in the elections; however, not all have yet managed to hold meetings.Meanwhile, Representatives of the OSCE Office for Democratic Institutions and Human Rights (ODIHR) met with the Chairman of the Central Election Commission Mazahir Panahov on August 12. During the meeting, it was noted that the Central Election Commission of Azerbaijan appreciates relations with international organizations and intends to continue working with them closely.
8This is Azerbaijan’s parliamentary elections and CEC is the key actor, so we are mainly fine to play our part of helping in the trainings which the European Union is doing in many countries in the world”, said Malena Mard, head of the EU Delegation to Azerbaijan. “We review key recommendations from the OSCE and the Council of Europe regarding the candidates’ registration. We hope to play our part in assisting the Central Election Commission for which we have had cooperation for a long time. We are happy to be a part of this project here in Azerbaijan and we are not only doing it in Baku, but we will several workshops and trainings all over the country, she said.
9The Altau district of China and East Kazakhstan region signed a framework agreement on cooperation in the tourism sector on August 13.This agreement was signed by travel agencies of respective countries at the third International Forum on economic cooperation held as part of the Economic Belt of Silk Road.The sides committed to support the cooperation in cross-border tourism and interaction between tour operators of the two countries.Kazakhstan plays significant strategic and diplomatic role for China as it is the first stop on China’s Silk Road Economic Belt.
10US has joined hands with China and Russia to oppose negotiations for reforming the UN body. India and some other developing nations have worked hard for long to prepare a framework on UNSC reform. They had suggested that the UNSC include more countries as its permanent members and work in a transparent manner. However, the US, Russia and China strongly opposed the proposal – which can be described as an outcome of inter-governmental negotiations