GYUMRI MURDERS THREATEN TO DISRUPT ARMENIA’S RELATIONS WITH RUSSIA, by Eduard Abrahamyan
SANCTIONS, ENERGY PRICES, AND RUBLE DEPRECIATION CHALLENGE CIS GOVERNMENTS, by Stephen Blank
DAGESTAN’S JIHADISTS AND HARAM TARGETING, by Emil Souleimanov
AZERBAIJAN INVESTS IN UPGRADING ITS TRANSPORT INFRASTRUCTURE, by John C.K. Daly
ARMENIAN PRESIDENT REJECTS TURKISH INVITATION TO ATTEND GALLIPOLI ANNIVERSARY, by Erik Davtyan
POLICE ARRESTED FOR OLD MURDER CASE IN GEORGIA, by Eka Janashia
KYRGYZSTAN DEBATES ELECTORAL SYSTEM REFORM, by Arslan Sabyrbekov
TAJIK PRESIDENT REVIEWS CHALLENGES IN ANNUAL ADDRESS TO PARLIAMENT, by Oleg Salimov
By Stephen Blank (02/18/2015 issue of the CACI Analyst)
In early 2015, oil prices are in free fall and the ruble’s value is plunging along with it. Though Russia is the immediate target or victim of these trends the repercussions of its economic crisis are already manifesting themselves throughout the CIS and affecting the economies of Central Asian and South Caucasian states. Economic crisis due to falling energy prices immediately throws failures of economic and political governance, like excessive borrowing and vanity projects, into sharp relief. But when this occurs in tandem with the depreciation of the Russian ruble and the inability of Russian firms to access foreign capital, the challenges to these states, all of whom are to varying degrees connected to the Russian economy, grow by an order of magnitude.
The Central Asia-Caucasus Analyst is a biweekly publication of the Central Asia-Caucasus Institute & Silk Road Studies Program, a Joint Transatlantic Research and Policy Center affiliated with the American Foreign Policy Council, Washington DC., and the Institute for Security and Development Policy, Stockholm. For 15 years, the Analyst has brought cutting edge analysis of the region geared toward a practitioner audience.