• KGS/USD = 0.01143 0%
  • KZT/USD = 0.00205 0%
  • TJS/USD = 0.10433 0.1%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28577 0%
  • KGS/USD = 0.01143 0%
  • KZT/USD = 0.00205 0%
  • TJS/USD = 0.10433 0.1%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28577 0%
  • KGS/USD = 0.01143 0%
  • KZT/USD = 0.00205 0%
  • TJS/USD = 0.10433 0.1%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28577 0%
  • KGS/USD = 0.01143 0%
  • KZT/USD = 0.00205 0%
  • TJS/USD = 0.10433 0.1%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28577 0%
  • KGS/USD = 0.01143 0%
  • KZT/USD = 0.00205 0%
  • TJS/USD = 0.10433 0.1%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28577 0%
  • KGS/USD = 0.01143 0%
  • KZT/USD = 0.00205 0%
  • TJS/USD = 0.10433 0.1%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28577 0%
  • KGS/USD = 0.01143 0%
  • KZT/USD = 0.00205 0%
  • TJS/USD = 0.10433 0.1%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28577 0%
  • KGS/USD = 0.01143 0%
  • KZT/USD = 0.00205 0%
  • TJS/USD = 0.10433 0.1%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28577 0%

Viewing results 25 - 30 of 462

Opinion: Washington Meeting and the Shifting Geopolitics of the Caspian

The Washington meeting between Armenia and Azerbaijan, hosted by President Donald Trump on August 8, 2025, may go down as a pivotal moment in the geopolitics of the Caspian and the wider Eurasian space. While on the surface the talks aimed to normalize relations between the two South Caucasus neighbors, the ripple effects extend far beyond bilateral reconciliation. For Azerbaijan, the meeting is not only about ending three decades of conflict with Armenia but also about positioning itself as a central bridge linking the Caspian Basin, Central Asia, and even Europe. The Caspian region has always been a security crossroads, where energy interests, military presence, and trade routes overlap. Russia’s war in Ukraine, the Iran-Israel conflict, and shifting Western engagement have made the region more volatile. In this context, a potential Armenia-Azerbaijan settlement offers a chance to stabilize the South Caucasus - the natural gateway between the Caspian and Europe. For Azerbaijan, peace with Armenia would solidify its position in the region where Baku has promoted several important transregional projects such as the Baku-Tbilisi-Ceyhan oil pipeline, the Southern Gas Corridor, and the Baku-Tbilisi-Kars railway. Azerbaijan is heavily investing in the development of the Caspian trade routes, energy infrastructure, and regional connectivity projects such as the Middle Corridor. Stability in the South Caucasus also makes it harder for external actors to exploit divisions - an especially significant factor given the previous attempt to exploit Armenia against Azerbaijan and Türkiye. That strategy brought no tangible results to Armenia, which remained regionally isolated and dependent on Russia. After the military defeats in 2020 and 2023, the Armenian leadership realized that peace and respect for the principle of territorial integrity is a much greater opportunity for the country rather than an irredentist project, which Prime Minister Nikol Pashinyan dubbed “mythical.” At the same time, a peace framework reduces the risk of military escalation spilling into the Caspian region. Naval modernization efforts by Russia and Iran in recent years have heightened anxieties. In short, normalization indirectly enhances Azerbaijan’s capacity to act as a stabilizing actor within the Caspian basin. Increasingly, Iran has also spoken about peace and cooperation, especially with Azerbaijan. Relations were tense a few years ago, but the incumbent President, Masud Pezeshkian, questioned the strategy employed previously by the Iranian clerics regarding Azerbaijan, which failed to gain any benefits. Perhaps the most significant geopolitical dividend for Azerbaijan lies eastward, across the Caspian. The Central Asian states - Kazakhstan, Uzbekistan, Turkmenistan, Kyrgyzstan, and Tajikistan - have long sought secure, diversified links to Europe. Russia’s war has made northern routes through its territory unreliable, while instability in the Red Sea undermines the traditional supply route. That leaves the Trans-Caspian link through Azerbaijan as promising. The Washington meeting, by promoting the peace agenda, reassures Central Asian partners that Baku is a reliable hub. Azerbaijan, Kazakhstan, and Uzbekistan signed an MOU about the transfer of alternative energy sources to Europe through another potential project – a Black Sea electricity cable from Georgia to Romania and Hungary. Azerbaijan...

Opinion: Over the Past Eight Years, New Uzbekistan Has Absorbed Over $113 Billion in Foreign Investments

On the eve of the 34th anniversary of our country’s independence, the Executive Board of the International Monetary Fund finalized the 2025 consultations under Article IV of the IMF Agreement. The Fund’s main conclusion is that Uzbekistan’s economic outlook remains positive amid continued progress in the transition to a market economy. According to the published document, headline indicators are strong, including sustained growth, a reduced consolidated budget deficit, a narrower current account deficit, and an adequate level of international reserves. IMF staff note that the successful implementation of structural reforms supports a favorable baseline. Despite a high degree of uncertainty in global trade policy, the IMF projects real GDP growth will remain robust in the coming years. These trends reflect greater economic openness, ongoing industrialization, active investment policy, and measures designed to build the export potential of promising industries. The reform package - and the decisions already put into effect - aligns with available domestic resources and reserves, supporting long-term, sustainable development across the country and its regions. The commitment to irreversible market transformation allows Uzbekistan to combine targeted state support with space for private entrepreneurial initiative on the path to building a “New Uzbekistan.” In recent years, rising openness and growing investor confidence have driven a steady increase in capital formation. From 2017 to 2024, total foreign investment exceeded $113 billion, more than 80% of which comprised foreign direct investment and loans. Financing activity has been particularly strong in leading industries and the fuel and energy complex, accelerating industrialization in virtually every region. Deepening investment links with China, Russia, Germany, Turkey, Saudi Arabia, the Netherlands, the United States, the United Kingdom, and others is bringing advanced technologies and expertise, modern management practices, expanded localization, and stronger export capacity to priority sectors and regions. These resources are primarily directed to technological upgrades and modernization of existing facilities, as well as the creation of new production sites. Over the past eight years, investment programs have launched more than 96,000 projects worth about $100 billion, creating 1.8 million jobs. In 2024 alone, the value of commissioned projects was nearly eight times higher than in 2017, while the number of jobs increased by 2.6 times. Active involvement by the Head of State has been pivotal. Since the start of this year, visits and high-level events have produced 366 investment agreements totaling $75 billion. Roadmaps have also been approved for 222 projects worth about $45 billion. At the IV Tashkent International Investment Forum held in June, agreements were reached on investments exceeding $30 billion for 144 joint projects. In April 2025, on the sidelines of the 5th International Industrial Exhibition “INNOPROM. Central Asia” in Tashkent, 43 additional investment agreements were signed, with plans to attract a further $1 billion to the industrial sector. Uzbekistan has also intensified outreach to the international community about project opportunities. This year, Investors’ Day events took place in 13 foreign countries, drawing representatives of 700 well-known companies. More than 200 investment projects worth $6 billion were presented to potential...

Opinion: Why Russia May Stop Oil Supplies via the CPC

The global confrontation between the West and East could, quite literally, devastate the economies of Central Asian countries in the near future. Some experts argue that the position Kazakhstan and its regional neighbors now occupy, four years into the war between Russia and Ukraine, has spiraled beyond anyone’s control. The disruption began with Ukrainian drone strikes on Russian infrastructure used by the Caspian Pipeline Consortium (CPC), which indirectly impacted oil flows from Kazakhstan to Europe. On August 2, several media outlets, citing sources within the Ukrainian military, reported an attack on the Central Asia-Center (SAC) gas pipeline running through Kazakhstan. The attack allegedly caused an indefinite halt in gas deliveries that Russia had been sending in reverse flow to Uzbekistan. Kazakhstan also uses this gas domestically. Shortly after, the energy ministries of both Uzbekistan and Kazakhstan denied reports of any damage to the pipeline. Nonetheless, Ukraine’s classification of the SAC pipeline as a legitimate target remains on record. Notably, although Kazakhstan’s Foreign Ministry has issued a formal protest to Kyiv over the CPC attacks, it has yet to reveal any official response from the Ukrainian side. Kazakhstan thus finds itself in an extremely vulnerable position: its national budget is heavily dependent on oil exports, while its southern infrastructure increasingly relies on imported gas. For example, the planned conversion of Almaty’s TPP-2 to gas is unfeasible without stable fuel supplies. In other words, Kazakhstan has become fully dependent on developments in the Russian-Ukrainian war. Compounding the geopolitical tension, U.S. President Donald Trump has pursued an aggressive and often unpredictable foreign policy approach. He has threatened sanctions against Russia’s economic partners if they continue buying oil from President Vladimir Putin. This pressure is primarily directed at China and India, both of which have already signaled they do not intend to comply with Trump’s ultimatum. In response, Russia may adopt symmetrical countermeasures targeting American companies, specifically, by halting oil flows via the CPC. That’s the view of JPMorgan analysts, who suggest that such a move could drive global oil prices up to $80 per barrel. This would benefit Russia but would deal a serious blow to Kazakhstan, which relies on CPC to export up to a million barrels of oil per day. Unfortunately, Kazakhstan lacks viable alternatives. The Baku-Tbilisi-Ceyhan (BTC) pipeline, often cited as a backup route, depends heavily on Caspian Sea shipping, which is increasingly hindered by shallow waters. Heavier oil barges dispatched from Aktau to Baku risk running aground. As a result, Kazakhstan's oil volume transported via BTC is expected to increase by only 300,000 tons this year, from 1.4 to 1.7 million tons. It's worth noting that CPC exports oil produced by American firms Exxon and Chevron, the British company Shell, Italy's ENI, and France’s TotalEnergies. These are the very firms Russia could target in retaliation. As Trump’s statements deepen the appearance of a Russia-versus-West conflict, energy infrastructure could increasingly become a battlefield. Hints of Moscow’s readiness to act have already emerged. In mid-July, President Putin signed a decree mandating...

Opinion: Ghosts of the Gulag – A View From the Ground

Recently, The Times of Central Asia published an article titled Ghosts of the Gulag: Kazakhstan’s Uneasy Dance With Memory and Moscow. While it is essential to consider outside opinions, it is equally important to articulate how this perspective looks from within. In Kazakhstan, there are three large museums dedicated to the memory of the victims of the communist regime. These are the infamous ALZHIR (Akmolinsk Camp for Wives of Traitors to the Motherland), the museum dedicated to the memory of victims of political repression, KARLAG (Karaganda camp), and a smaller memorial complex to the victims of political repression at Zhanalyk, located about 40 kilometers from Almaty. Historians believe that around 2,500 people are buried there, including prominent members of the Kazakh intelligentsia, such as Akhmet Baitursynov, Mukhamedzhan Tynishpaev, Saken Seifullin, Ilyas Jansugurov, and Beimbet Maily. In addition to these museums, there are monuments to the victims of political repression and the famine of the 1920s–30s in many cities across the country. But it's not just about the number of museums and monuments. What matters most is that the memory of these events is preserved, and it is being carefully studied. In 2020, a state commission for the full rehabilitation of victims of political repression was established by the government. Over several years, 425 scholars, researchers, and experts have participated in its work. More than 2.6 million documents and materials have been declassified. Most importantly, this commission has rehabilitated more than 311,000 victims of political repression within the framework of existing legislation. The results of this work are documented in 72 volumes. There are no sections in these research materials divided by nationality. The approach is the same for everyone: justice and fairness for all. This calls into question the “collective amnesia that obstructs historical reckoning” referred to by Guillaume Tiberghien, a specialist in dark tourism at the University of Glasgow. Regarding any "emphasis on what the prison system ‘contributed’ to the nation” mentioned by Margaret Comer, a memory studies expert at the University of Warsaw, there are conflicts of interest and truths people would rather not face. One of the main purposes of Karlag was to serve as a major base of food supplies for Kazakhstan’s growing coal and metallurgical industries. In addition to industrial development, by 1941 the camp had 70 sheep farms, 45 cattle farms, one horse farm, and two pig farms. By 1950, 4,698 people worked on these farms, including 13 academic scientists. The communist system of corrective labor camps was an integral part of economic development, achieved through what was essentially slave labor. This is the full cynicism of the regime on display: prisoners were expected to “work off” their guilt. “The country is walking a tightrope,” Tiberghien suggests, pointing to President Tokayev’s speech on May 31, the official Day of Remembrance for Victims of Political Repression. “It wants to keep things calm, to avoid upsetting Russia.” In this speech, while calling for the rehabilitation of victims and greater access to archives, Tokayev also condemned the...

Opinion: Ghosts of the Gulag: Kazakhstan’s Uneasy Dance With Memory and Moscow

In May 2025, the authorities in Moscow unveiled a life-size bas‑relief sculpture of Josef Stalin in the Taganskaya metro station. The next month, a statue of Lenin was pulled down in Osh, Kyrgyzstan. Between these two symbolic acts lies Kazakhstan, caught in a tug-of-war over the memory of Soviet-era repression. Between 1920 and 1960, millions of prisoners were deported to more than fifty labor camps across what was later to become the Republic of Kazakhstan. Those who weren’t executed on the spot — political opponents, intellectuals, artists — were forced to work in mines, construction sites, or collective farms feeding Soviet industrial expansion. The death toll remains unknown but is believed to be in the millions. Today, this dark past draws in history buffs and thrill-seekers. But darktourism.com, the go-to website on the topic, warns them: forgotten cemeteries, ghost villages, crumbling camps — this gulag archipelago is well hidden in the steppes. No sign points the way to the Museum of Political Repression in Dolinka, housed in the former headquarters of Karlag, one of the largest camps of the Soviet Gulag system. The only other gulag transformed into a museum is ALZHIR, built on the ruins of the Akmola camp near Astana. It commemorates the 18,000 women imprisoned between 1939 and 1953 for being the wives of “traitors to the motherland.” These two museums now stand as official symbols of Soviet repression in Kazakhstan, and, more subtly, as frontline sites in a broader memory war across the former Soviet Union. Selective Memory When the museums were nationalized in the 2000s, their message became tightly controlled. Portraits and quotes from former president Nursultan Nazarbayev began to cover the walls. Guillaume Tiberghien, a specialist in dark tourism at the University of Glasgow, calls it a “selective interpretation of history.” The goal? To unify the country’s 160 ethnic groups under a shared narrative of collective suffering. At both Karlag and ALZHIR, guides emphasize acts of solidarity between Kazakh villagers and deportees — hospitality, compassion, bits of cheese tossed over barbed wire fences to feed the starving. [caption id="attachment_34338" align="aligncenter" width="2560"] Execution scene recreated at the Karlag museum; image: Manon Madec.[/caption] The past is staged. Between wax statues with sunken faces, sound effects mimicking heartbeats, and torture room reconstructions, the visitor is drawn into a visceral experience, sometimes at the cost of accuracy. “You wonder if the museum overdoes it to trigger emotion,” Tiberghien remarks. Margaret Comer, a memory studies expert at the University of Warsaw, explains: “It’s sometimes easier to mourn victims than to identify perpetrators.” [caption id="attachment_34337" align="aligncenter" width="2560"] Execution scene and fake blood, reconstructed in the Dolinka museum; image: Manon Madec.[/caption] The complicity of local Kazakhs is never addressed. Russian responsibility is blurred behind vague terms like “NKVD” or “Stalinist repression.” At ALZHIR, visitors learn only about Sergey Barinov — a Russian commandant described as cultured, discreet, and caring toward the women detained. The other two camp directors are never mentioned. In other former Soviet republics — Ukraine, the Baltics, Georgia — such...

Opinion: A Sea of Discord? Intensifying Military Drills Threaten Stability in the Caspian Region

On Monday, Russia and Iran launched joint military exercises in the Caspian Sea under the banner “Together for a Safe and Secure Caspian Sea.” Officially, the drills aim to enhance maritime security and naval cooperation between the two countries and are being coordinated by Iran’s Northern Fleet. While such exercises might once have passed without much notice, their timing and frequency reflect a shifting dynamic: the Caspian region is rapidly emerging as a potential hotspot in global geopolitics. Just one month prior, the same waters hosted joint military exercises between Azerbaijan and Kazakhstan, held in Aktau, western Kazakhstan. These were followed by the “Tarlan-2025” air and tactical drills in Azerbaijan from July 8-10, which focused on enhancing UAV operations and military coordination. Baku’s strategic alliance with Ankara is a key factor here. Azerbaijan, a close Turkish partner, is now engaged in a more strained relationship with Russia. Moscow’s muted reaction to this cooling suggests an awareness that Ankara is increasingly shaping a Turkic military-political bloc, an emerging force in a region of strategic importance to both Russia and China. Earlier this month, Turkey launched its annual Anadolu-2025 special forces exercises. Participants included troops from 33 nations, Kazakhstan, Azerbaijan, Pakistan, Uzbekistan, and others but notably excluded Russia. For the first time, in 2024, military exercises were held in the Caspian without Russian involvement. The Birleistik (Unity) 2024 drills were conducted at Kazakhstan’s Oymasha training ground and Cape Tokmak along the Caspian coast. Troops from Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan rehearsed scenarios including conflict zone identification, night maritime operations, and amphibious landings. Previously, regional military cooperation had been limited to bilateral engagements, such as the 2023 UZAZ exercises (Azerbaijan-Uzbekistan), Kanzhar-2023 (Kazakhstan-Uzbekistan), and Hazri-2023 (Azerbaijan-Kazakhstan). The spike in joint drills during 2024-2025 underscores growing rivalries between regional and global powers. These operations are not mere formalities but reveal emerging security alignments and geopolitical signals. Three distinct blocs appear to be coalescing in the Caspian, with implications for Central Asia as well. The first bloc includes Russia, Iran, and China. These nations have held annual “Maritime Security Belt” exercises since 2019, with the most recent in March 2025 off the Iranian coast. The second bloc comprises Turkey, Azerbaijan, and members of the Organization of Turkic States (OTS). Defense ties among these countries are becoming a core element of OTS cooperation. At the 10th OTS Summit in Astana in 2023, Azerbaijani President Ilham Aliyev emphasized defense as the main guarantor of member state security, citing ongoing regional conflicts and violations of international law. The third bloc, more pragmatic and focused, is the Kazakhstan-Azerbaijan partnership. These countries are cooperating on the basis of the 2018 Caspian Convention to secure maritime communications. Azerbaijan contributes military expertise, particularly in UAV and drone warfare developed during the Karabakh conflicts. Kazakhstan brings diplomatic credibility and promotes regional governance and connectivity, offering a stabilizing complement to Azerbaijan’s military strengths. In sum, the Caspian Sea, once colloquially referred to as “Russia’s lake”, is steadily losing that identity. It is transforming into...