Caucasus
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The banking systems of Azerbaijan, Georgia and Armenia operate in the same region, but their relationship with money is different: Baku banks live in the shadow of the oil economy, Tbilisi under the influence of foreign currency, and Yerevan under...
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The economic price of peace: Who gains from opening borders and transport links In December 2025 the merchandise of peace was strikingly mundane: 22 railway tank cars filled with AI-95 petrol. SOCAR, Azerbaijan’s state oil company, sent 1,220 tonnes...
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Azerbaijan and Armenia have begun substantive discussions on connecting their electricity systems, taking another step from political declarations about normalisation towards practical infrastructure cooperation. Representatives of the two...
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The Vulnerability of the South Caucasus Energy Corridors Azerbaijan is widening the geography of its gas sales as Europe looks for alternatives to Russian fuel. Yet the 2025 results show that the number of buyers is growing faster than physical...
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