Shady export leaks suggest Russian sanctions work 29 Aug 2023 A suspicious bump in European exports to countries like Kazakhstan may be helping Moscow evade Western bans. The G7 price cap on Putin’s oil is also porous. But these cracks are marginal and help demonstrate the embargoes’ effectiveness – and why they can be tightened.
“Too big to fail” trade backfires in Baku 24 May 2017 International Bank of Azerbaijan is restructuring $3.3 bln of foreign debt after loan and currency losses. Bondholders had counted on the Caucasus state to prop up the lender, despite weaker finances. The hunt for yield in emerging markets is bound to throw up other nasty shocks.
What happens in Baku may not stay in Baku 28 Jan 2016 Azerbaijan is calling in the IMF as its currency plunges. Yet it isn’t the only one heavily exposed to oil and gas prices. Dependence on Russia for trade, growing debt and reliance on commodities could unsettle the region unless prices recover or financial holes are plugged.