February 2015

Turkish Stream: A Bluff or Not?

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By Orhan Gafarli

During his visit to Ankara in December 2014, Vladimir Putin announced that South Stream—a large pipeline that would have carried Europe-bound Russian gas under the Black Sea and across Southeastern Europe—had been terminated. A major reason for South Stream’s cancellation was attributed to the exit from the project of Bulgaria, one of the key countries through which this pipeline would pass. Instead, Russia and its regional partners, including Turkey, are now discussing a new pipeline project—Turkish Stream, sometimes referred to as Turk Stream (Anadolu Agency Energy Terminal, December 2, 2014).

A Troublesome Partnership

By Alexandr Gabuev

Fettered by Western sanctions, major Russian companies are looking for new opportunities in East Asia, pinning most of their hopes on China, the world’s second largest economy and Moscow’s closest political partner. And yet, private businesses and top managers of state-run companies are talking about numerous problems and risks stemming from the increased dependence on China. Minimizing them is a task that business and the government should tackle together.