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☆ ‘Retracing the Iron Curtain’ Review: The Border of Borders
▼ + stars: | 2023-03-15 | by ( Andrew Stuttaford | ) www.wsj.com time to read: +1 min

In 2019, writer and historian Timothy Phillips embarked on a 3,000-mile trek along the route of Europe’s postwar dividing line—almost a third was on foot. The trip began in Norway’s far north and ended where Turkey and Azerbaijan meet, and in his engrossing “Retracing the Iron Curtain,” Mr. Phillips uses that journey to tell the story of this brutal “border of borders,” which in the early days after World War II reached much further than is typically recalled. And so Mr. Phillips shows up in Bornholm, a Danish island in the Baltic, which was still being “liberated” by the Soviets when Churchill spoke of an Iron Curtain. The Soviets eventually left, with conditions—just as there were conditions when they handed back Porkkala, a Finnish peninsula a few miles west of Helsinki that for a decade or so had been an exclave of the Leningrad region. The Soviets departed abruptly, but when the Finns returned home, “it wasn’t so much a case of the coffee still steaming on the stove as of the smoke still rising from the wreckage.”

☆ Scholz plays down threat of SVB meltdown to Germany
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +1 min

BERLIN, March 14 (Reuters) - Chancellor Olaf Scholz on Tuesday said Germans should not have major concerns about the fallout of Silicon Valley Bank's (SIVBV.UL) collapse and that regulators had learned lessons from the global financial crisis in 2008. "We have made significant progress since the situation of the 2008/09 financial crisis," Scholz said, seeing better public oversight of the banking system. "That's the best thing you can do to ensure the safety of systems," emphasized Scholz. "In this respect, there's really no reason for anyone here in Germany to have major worries." Reporting by Matthias Williams and Andreas Rinke Editing by Madeline Chambers and Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

"It seems to me that all the countries located around the Russian Federation should draw their own conclusions about how dangerous it is to take a path towards engagement with the United States' zone of responsibility, its zone of interests." Putin casts the war in Ukraine as an existential battle with the West over the future of both Russia and its former Soviet and imperial satellites which since 1991 have been courted by the United States, NATO, the EU, and China. Washington and the broader West, Lavrov said, wanted to punish Russia because it was perceived as "too independent a player" which challenged the hegemony of the United States. Lavrov, Putin's foreign minister since 2004, said that events in Georgia were orchestrated from outside and motivated by a Western attempt to claw away Russia's traditional allies. They say they simply did not agree with the proposed law and want a Western future which Russia, that fought a war against Georgia in 2008, does not offer.

☆ Explainer: What's at stake in Turkey's upcoming elections?
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +5 min

The opposition promises to reverse many of the policies of Erdogan, who has championed religious piety, military-backed diplomacy and low interest rates. WHAT'S AT STAKE IN THIS ELECTION FOR TURKEY ... Erdogan has also centralised power around an executive presidency, based in a 1,000-room palace on the edge of Ankara, which sets policy on Turkey's economic, security, domestic and international affairs. Economists say Erdogan's calls for low interest rates sent inflation soaring to a 24-year high of 85% last year, and the lira slumping to one tenth of its value against the dollar over the last decade. How the opposition will garner support among the Kurdish voters, accounting for 15% of the electorate, remains key.

☆ Five dead in new Azerbaijan-Armenia clash over Karabakh
▼ + stars: | 2023-03-05 | by ( ) www.reuters.com time to read: +2 min

March 5 (Reuters) - Azerbaijani troops and ethnic Armenians exchanged gunfire on Sunday in Azerbaijan's contested region of Nagorno-Karabakh, killing at least five people, according to reports from Azerbaijan and Armenia. Nagorno-Karabakh was the focal point of two wars that have pitted Azerbaijan against Azerbaijan in the more than 30 years since both ex-Soviet states have achieved attendance. Armenia's foreign ministry said three officials from the Karabakh interior ministry were killed. Nagorno-Karabakh has long been recognised internationally as part of Azerbaijan, though its population is made up predominantly of ethnic Armenians. Armenian forces took control of Karabakh in a war that gripped the region as Soviet rule was collapsing in the early 1990s.

After Russia invaded Ukraine, the West formed what looked like an overwhelming global coalition: 141 countries supported a United Nations measure demanding that Russia unconditionally withdraw. South Korea Indonesia Israel Thailand Japan Saudi Arabia Philippines Afghanistan CambodiaBy contrast, Russia seemed isolated. Eritrea “Russian actions are being distorted” North Korea Russia Belarus Syria Eritrea “Russian actions are being distorted” North Korea Russia Belarus SyriaBut the West never won over as much of the world as it initially seemed. But like many other African countries, South Africa appears careful to balance its growing ties with Russia against maintaining a relationship with the West. Others that provided Ukraine with military support have declined to impose economic sanctions on Russia.

☆ Leaders of Armenia, Azerbaijan set for first meeting since October
▼ + stars: | 2023-02-18 | by ( ) www.reuters.com time to read: +1 min

Feb 18 (Reuters) - The leaders of Armenia and Azerbaijan are set to meet for the first time since October at trilateral talks with U.S. Secretary of State Antony Blinken in Munich on Saturday, the U.S. State Department said. The U.S. State Department said Blinken would meet Armenian Prime Minister Nikol Pashinyan and Azerbaijan President Ilham Aliyev at 1235 GMT. Armenia has sent Azerbaijan a draft proposal for a peace settlement, Pashinyan said this week. Azeri civilians identifying themselves as environmental activists have been facing off since Dec. 12 with Russian peacekeepers on the Lachin corridor. Saturday's meeting would be the two leaders' first face-to-face encounter since late October, when Russian President Vladimir Putin hosted talks in the Black Sea city of Sochi.

☆ Fact Check-Drone strike video is not from Russia-Ukraine war, dates to at least 2020
▼ + stars: | 2023-02-17 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

A video of what appears to be a drone strike targeting troops on the ground has been circulating online with a caption that falsely claims it was taken during the Russia-Ukraine war. Other iterations of the video can be found on Instagram (here ) and Facebook (here ). However, a reverse image search reveals that the video was shared online as far back as 2020, long before Russia invaded Ukraine in February 2022. It was published to YouTube on Oct. 13, 2020, with a description that reads: “Azerbaijani drone strike on Armenian soldiers” (here ). The drone strike video is not related to the Russia-Ukraine war and dates to at least 2020, when it was shared in relation to a conflict between Azerbaijan and Armenia.

☆ Petronas units in Luxembourg seized again in $15 bln arbitration dispute
▼ + stars: | 2023-02-16 | by ( Rozanna Latiff | ) www.reuters.com time to read: +2 min

It obtained a stay on the award in France but the ruling remains enforceable overseas under a United Nations treaty on arbitration. The Petronas Azerbaijan (Shah Deniz) and Petronas South Caucasus units were first seized in July 2022, but the Malaysian government said last month that the order had been set aside by a Luxembourg district court. On Tuesday, Luxembourg court bailiffs issued a second seizure order on the units and related bank accounts, court documents shared by the heirs' lawyer, Paul Cohen, showed. The Luxembourg court could not be immediately reached for comment. The heirs say they were not involved in the incursion and sought arbitration over the suspension of payments.

Brent crude futures fell by 82 cents, or 1%, to $85.79 per barrel by 0132 GMT, while U.S. crude futures fell by $1.04, or 1.3%, to $79.10 per barrel. The U.S. Department of Energy (DOE) said after the previous session ended that it would sell 26 million barrels of oil from the SPR, a release that had been mandated by Congress in previous years. The DOE had considered cancelling the fiscal year 2023 sale after U.S. President Joe Biden's administration last year sold a record 180 million barrels from the reserve. Ceyhan is for endpoint for pipelines that carry oil from Azerbaijan and Iraq and about 1 million barrels per day (bpd) of crude can be exported from there. Crude production in the shale basins will rise by about 75,000 bpd in March to a record 9.36 million bpd, the EIA projected.

☆ Italy to sign gas turbines contract with Azerbaijan
▼ + stars: | 2023-02-11 | by ( ) www.reuters.com time to read: +1 min

ROME, Feb 11 (Reuters) - Italy is set to sign a new contract to sell four gas turbines to Azerbaijan, its industry minister said on Saturday ahead of his visit to the Asian country that is one of Rome's most important energy partners. The deal will involve Italy's Ansaldo Energia, a service provider for the power generation industry, and Azerenerji, the country's largest electrical power producer, minister Adolfo Urso said in a statement. The news comes after Italy last month signed a $8 billion gas production deal with Libya aimed at boosting energy supplies to Europe. Italy is working to double to 20 billion cubic meters the capacity of the Trans Adriatic Pipeline (TAP), which brings Azeri gas to Apulia in the southeast of the country. Rome sees a role for itself as a hub for gas supplies to northern Europe in the coming years to help offset the loss of imports from Russia.

☆ Ceyhan loadings of BTC pipeline oil could begin within two days, sources say
▼ + stars: | 2023-02-11 | by ( ) www.reuters.com time to read: +1 min

Summary Manual loadings while BTC control room repaired -officialKirkuk loadings resumed on TuesdayISTANBUL, Feb 11 (Reuters) - Turkey's Ceyhan port could resume loading oil from the Baku-Tbilisi-Ceyhan (BTC) pipeline in one or two days using "manual" procedures, a Turkish official and a shipping source said on Saturday. It is the storage and loading point for the BTC pipeline which carries oil from Azerbaijan as well as the Kirkuk pipeline from Iraq. The Kirkuk pipeline resumed flows on Tuesday evening and a tanker docked at Ceyhan to load that day. The control room for BTC pipeline loadings there was damaged, the Turkish official said, but added loadings were expected to resume "manually" while the control room is repaired. Loadings could begin within a day or two days, a shipping source said, quoting information received from the terminal.

☆ France urges stronger international response to Iran's missile program
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +1 min

[1/2] French Foreign Minister Catherine Colonna looks on during a news conference with Brazil's Foreign Minister Mauro Vieira ( not pictured ) at Itamaraty Palace in Brasilia, Brazil, February 8, 2023. REUTERS/Adriano Machado/File PhotoSummary French govt: Colonna spoke to Blinken on ThursdayDiscussed Iran, Ukraine, Armenia, AzerbaijanUrged stronger response to Iran missile programmePARIS, Feb 10 (Reuters) - There must be a stronger "international response" to the threat posed by Iran's ballistic missiles program, French Foreign Minister Catherine Colonna told her U.S. counterpart Anthony Blinken, France's Foreign Ministry said on Friday. The French Foreign Ministry said Colonna and Blinken had spoken by phone on Thursday, during which they discussed an array of topics, including Ukraine and Iran. Colonna and Blinken also reiterated their "full support" to Ukraine, which was invaded by Russia almost a year ago, and discussed the situation between Armenia and Azerbaijan. Reporting by Benoit Van Overstraeten and John Irish; Editing by Sudip Kar-GuptaOur Standards: The Thomson Reuters Trust Principles.

☆ Oil falls as earthquake impact on crude eases, rate hike fears rise
▼ + stars: | 2023-02-09 | by ( Laila Kearney | ) www.reuters.com time to read: +2 min

Brent crude settled at $84.50 a barrel, losing 59 cents, or 0.7%. U.S. crude stocks rose last week to 455.1 million barrels, their highest since June 2021, the Energy Information Administration reported on Wednesday, which also pushed oil prices lower. The prospect of stronger demand from China provided some support to oil prices, as the world's second largest oil consumer ended more than three years of stringent zero-COVID policy. "Overall, this should push global demand up by 2.1 million barrels a day in 2023." A weaker U.S. dollar, which typically trades inversely with oil, also helped limit losses in crude prices.

LONDON, Feb 9 (Reuters) - Oil prices dipped in U.S. trading hours on Thursday after the country's oil inventories hit their highest in months and on signs that the Federal Reserve could keep raising interest rates. "Relentlessly rising U.S. commercial inventories and potentially entrenched inflation limit any immediate upside potential," said PVM analyst Tamas Varga. He said recovering Chinese demand and falling inflation were set to support oil prices in the second half of the year. Crude oil stocks in the United States rose last week to their highest since June 2021, helped by higher production, the Energy Information Administration said. read more GLOB/MKTSBut the prospect of stronger demand from China provided some support to oil prices, as the world's second largest oil consumer ended more than three years of stringent zero-COVID policy.

LONDON, Feb 9 (Reuters) - Oil prices were steady on Thursday, as optimism over recovering Chinese demand was offset by U.S. oil inventories hitting their highest in months and signs the U.S. Federal Reserve could keep raising interest rates. He said recovering Chinese demand and falling inflation were set to support oil prices in the second half of the year. Crude oil stocks in the United States rose last week to their highest since June 2021, helped by higher production, the Energy Information Administration said. read more GLOB/MKTSBut the prospect of stronger demand from China lent some support to oil prices, as the world's second-largest oil consumer ended more than three years of stringent zero-COVID policy. "We expect Chinese oil consumption to increase by around 1.0 million barrels a day this year, with strong growth emerging as early as late in Q1," analysts from ANZ bank wrote in a note.

☆ Oil prices steady amid China demand revival, high U.S. inventories
▼ + stars: | 2023-02-09 | by ( Muyu Xu | ) www.reuters.com time to read: +2 min

"U.S. crude oil ... inventories have continued to exceed expectations, which to some extent erodes the bullish sentiments brought from China's demand recovery hopes," said analysts from Haitong Futures. Crude oil stocks in the United States rose last week to their highest since June 2021, helped by higher production, the Energy Information Administration said on Wednesday. U.S. gasoline and distillate inventories also rose last week as demand remained weak. read moreBut the prospect of stronger demand from China lent support to oil prices, as the world's second-largest oil consumer ended more than three years of stringent zero-COVID policy involving city-wide lockdowns and mass testing in December. The disaster had halted operations at Ceyhan and disrupted crude oil flows from Iraq and Azerbaijan.

☆ Oil rises for 4th day as supply disruptions, China demand supports
▼ + stars: | 2023-02-09 | by ( ) www.cnbc.com time to read: +1 min

Freight wagons carrying oil and fuel at a petroleum products terminal in Riga, Latvia, on Feb. 2, 2023. Oil edged up in early trade on Thursday, extending gains for a fourth consecutive day, as crude loading disruptions in Turkey and optimism over China's recovering demand continued to buoy sentiment. Brent crude futures rose 14 cents, or 0.2% to $85.26 a barrel by 0239 GMT, while U.S. West Texas Intermediate (WTI) crude futures firmed 11 cents, or 0.2% higher, to $78.58 a barrel. The disaster had halted operations at Ceyhan and disrupted crude oil flows from Iraq and Azerbaijan. However, increasing crude inventories in the United States put pressure on oil gains.

Brent crude settled up $1.40, or 1.7%, to $85.09 a barrel while U.S. West Texas Intermediate (WTI) crude settled up $1.33, or 1.7%, to $78.47. Investors hope less aggressive U.S. interest rate increases will help the world's biggest economy dodge a sharp economic slowdown or recession that would hit oil demand. "A looming oil demand surge together with lacklustre global supply growth will ensure that the oil balance tightens over the coming months," said Stephen Brennock of oil broker PVM. The earthquake that struck Turkey and Syria on Monday stopped crude oil flows from Iraq and Azerbaijan out of the Turkish port of Ceyhan. U.S. Energy Information Administration data showing U.S. oil production rose last week to the highest level since April 2020, however, limited oil's gains.

Companies Bp Azerbaijan FollowBp Plc FollowLONDON/BAKU, Feb 8 (Reuters) - BP Azerbaijan has declared force majeure on loadings of Azeri crude from the Turkish port of Ceyhan, after a series of earthquakes on Monday, the company said on Wednesday. The notice was issued to oil shippers following a temporary suspension of loading operations from the Ceyhan Marine Terminal (CMT), BP Azerbaijan spokeswoman Tamam Bayatly told Reuters by email. BP Azerbaijan operates the Azerbaijan and Georgia sections of the Baku-Tblisi-Ceyhan (BTC) pipeline. Azerbaijan uses the Turkish port of Ceyhan as its main crude export hub, with a flow of about 650,000 barrels per day (bpd). The Iraqi crude pipeline to Turkey's Ceyhan oil export hub resumed flows on Tuesday evening and a tanker docked to load Iraqi crude at Ceyhan earlier in the day.

☆ Azeri BTC crude loadings suspended at a major oil export hub in Turkey after earthquakes
▼ + stars: | 2023-02-08 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

Crude oil loadings from Turkey's Baku-Tbilisi-Ceyhan terminal in the Mediterranean have been suspended following a twin set of earthquakes that devastated Turkey and Syria on Monday, leaving over 9,000 dead. The BTC terminal loads Azeri BTC Blend crude, which is transported to the Ceyhan port through the BTC pipeline. A force majeure notice seen by CNBC — which removes contractual liability from exporters or producers for circumstances outside of their control — was issued on Tuesday evening. The BTC pipeline was not impacted by the earthquakes, the Botas International Company that operates its Turkish section said on Monday. The BTC crude oil loadings schedule that is typically published on the 8th of every month will be delayed, two trade sources said.

A massive earthquake that struck Turkey and Syria early on Monday had halted operations at Ceyhan and stopped key crude oil flows from Iraq and Azerbaijan. A trading source said the vessel was given the all clear to load Iraqi oil from storage. While Iraqi crude flows and exports have resumed, exports of Azeri crude were still stopped. The Azeri BTC pipeline was however still working and sending oil to storage in Ceyhan, two sources said. The Alfa Baltica and the Nordlotus tankers were waiting in the area for the Azeri crude BTC terminal at Ceyhan to reopen.

☆ Turkey to host summit of gas buyers, sellers next month
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +1 min

ISTANBUL, Jan 30 (Reuters) - Turkey will hold a natural gas summit on Feb. 14-15 to bring together gas supplier countries and Europe's consumer countries in Istanbul, Turkish Energy Minister Fatih Donmez said on Monday. "We will bring together supplier countries from the Middle East, Mediterranean, Caspian and Middle Asia with consumer countries from Europe," Donmez said. In October, Russia's President Vladimir Putin proposed setting up a gas hub in Turkey following explosions that damaged Russia's Nord Stream gas pipelines under the Baltic Sea. Some Western capitals were concerned that a Turkish hub including Russian gas could allow Moscow to mask exports that are sanctioned by the West over the Russian invasion of Ukraine. Turkey has the infrastructure and experience in gas trade and authorities are taking steps for it to be a hub where regional benchmark prices are set, Donmez said.

☆ Armenia tells World Court Azerbaijan blockade is 'ethnic cleansing'
▼ + stars: | 2023-01-30 | by ( Stephanie Van Den Berg | ) www.reuters.com time to read: +2 min

THE HAGUE, Jan 30 (Reuters) - Armenia told judges at the World Court on Monday that a blockade of the disputed Nagorno-Karabakh region by neighbouring Azerbaijan was designed to allow "ethnic cleansing", a claim rejected by Baku. Monday's hearing at the International Court of Justice (ICJ), also known as the World Court, was called to hear an Armenian request for the court to order Azerbaijan to lift the blockade. "Such blatant acts of ethnic cleansing have no place in the modern era and this court is the last hope for the ethnic Armenians of Nagorno-Karabakh," Kirakosyan said. Mammadov also said that Armenia's claims of ethnic cleansing were "distorting reality deliberately" and were "fanning the flames" of conflict. On Tuesday the ICJ will hear a competing demand from Azerbaijan for the court to order Armenia to stop planting landmines in territories it once occupied.

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