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headlines from the caspian: march 28, 2022

Headlines from the Caspian: March 28, 2022

Author:Caspian Policy Center

Mar 28, 2022

Image source: Getty Images

Energy and Economy

Tashkent International Investment Forum Result in $7.8 billion deal

Over two thousand participants from 56 countries gathered in the capital of Uzbekistan to discuss cooperative investment and economic opportunities at the first meeting of the Tashkent International Investment Forum. The event concluded with the signing of contracts and investment agreements worth $7.8 billion.

Source: UZ Daily

Influx of Russians Triggers Real Estate Speculation in Yerevan

The arrival of a large number of Russians and Ukrainians to Yerevan has led to a spiral of real estate speculation in the Armenian property market. Russians seeking to evade the effects of sanctions and Ukrainians fleeing Russia’s invasion of their country have inundated Yerevan’s property market.

Source: Eurasianet

Central Asian Migrants Losing Work as Russian Businesses Downsize or Close

Sanctions imposed on Russia since its invasion of Ukraine have forced many Russian businesses in Central Asia to downsize. Many Western companies have also suspended their business in the region. This has left thousands of people unemployed.

Source: RFE/RL

Caspian Pipeline Consortium Shutdown Threatens Kazakhstani Oil Exports

 The Caspian Pipeline Consortium is functioning at a substantially reduced capacity after its terminal in Russia was allegedly damaged in a storm. This is a serious problem for Kazakhstan because roughly two thirds (over a million barrels per day) of its oil is exported through the pipeline.

Source: Eurasianet

$120 Million Loan for Solid Waste Management Secured for Western Uzbekistan

The European Bank for Reconstruction and Development has approved up to $120 million of long-term sovereign loans to regional utilities companies responsible for solid waste management in Horezm and Karakalpakstan. The loans are designed to support Uzbekistan’s decarbonization efforts in accordance with the Paris Peace Agreement and support national solid waste management strategy that has been identified as a key priority for the Uzbek government.

Source: AKI Press

Georgian Government in Talks to Relocate International Companies from Ukraine and Russia

The Georgian government is in discussion with companies from Britain, Germany, and other countries with businesses based in Ukraine and Russia to relocate operations to Georgia. Economy Minister Levan Davitashvili noted that this initiative could contribute to the development of jobs and strengthen the Georgian economy.

Source: Agenda.ge

Politics and Security

Tensions Escalate Between Armenia and Azerbaijan

The Russian Defense Ministry has accused Azerbaijan of violating the ceasefire by deploying Turkish-made drones and troops into areas monitored by Russian peacekeeping forces. The Azerbaijani government denied claims that it had breached the ceasefire and accused Moscow of failing to recognize Azerbaijan’s territorial integrity and failing to fully implement the ceasefire agreement that requires Armenian forces to withdraw from the area.

Source: Bloomberg

Armenian PM Discusses Escalation with Putin

Armenian Prime Minister Nikol Pashinyan discussed the latest escalation in Nagorno-Karabakh with Russian President Vladimir Putin.  Pashinyan’s press office said that the two leaders discussed the issue and the ongoing situation.

Source: RFE/RL

President of Turkey Visits Uzbekistan

President of Turkey Recep Tayyip Erdogan will pay an official visit to Uzbekistan on March 29-30 to attend the second meeting of the Uzbekistan-Turkey Council for Strategic Cooperation. The two leaders will discuss methods to further develop their strategic partnership and expand cooperation between the two countries across a variety of sectors.

Source: UZ Daily

Azerbaijan to Sign Memorandum on Regional Special Forces Exercises with Turkey and Georgia

The Parliament of Azerbaijan is expected to approve a memorandum of understanding on the Caucasian Eagle Special Forces exercises. Discussion will also be held to approve the protocol on obligatory financial commitments for member states in accordance with the Secretariat of the Cooperation Council of Turkic Speaking States.

Source: Trend

Arrests in Tbilisi as Fuel Price Protests Block Central Interchange

Georgian police detained over 20 people for their participation in protests against rising fuel prices. Two arrests were also reportedly made during a similar protest in Kutaisi. Police had warned that these actions would cause a “transport collapse” in Tbilisi.

Source: Open Caucasus Media

(Sources: Agenda.ge, AKI Press, Bloomberg, Eurasianet, Open Caucasus Media, RFE/RL, Trend.az, UZ Daily)

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