There are just two countries in the world which are both Asian and European at the same time.It is not just the geography of the two countries that make them simultaneously Asian and European but also their cultures, their politics, their histories and their economies. Russia and Turkey’s unique positions, not shared by any other countries, give them a different perspective on the world.

• January 27, 2012

Belarus, Kazakhstan and Mongolia all added to their gold reserves in the final month of 2011, with purchases by the trio totaling more than 320,000 troy ounces of bullion, according to figures from the International Monetary Fund.

• January 25, 2012

Russia's foreign minister says Moscow is "open to constructive proposals" for dealing with the crisis in Syria but remains opposed to any move by the United Nations supporting sanctions or the use of force against President Bashar al-Assad's regime.

• January 25, 2012

Ukraine aims to increase the production of its own natural resources by exploring alternative resources and expanding coal production, the president said.

• January 24, 2012

Issue 10: November-December 2011

A Snapshot of Key Developments in the External Relations of the Russian Gas Sector
Key points:

• Gazprom hasn’t given up on its attempts to break into South-East Asian gas markets. Its proposal for a potential trans-Korean pipeline has found support in both North and South Korea. However, North Korea’s change in leadership casts a shadow of doubt over the situation
• Gazprom’s purchase of the remaining 50 percent share in Beltransgaz brought a sigh of relief to European consumers, with transit disputes and Belarusian debts for Russian gas seemingly laid to rest. The purchase is one of several measures designed to bring Russia and Belarus closer together, and demonstrate to Ukraine the potential benefits of selling its gas transportation system to Gazprom
• Nord Stream was launched with great fanfare. The launch has a substantial impact on the current transit situation, with Ukraine looking like the loser of the piece as its transit volumes are increasingly likely to fall
• Gazprom intensified negotiations with Kiev over the possible sale of Ukraine’s gas transit system. Given the sale of Beltransgaz to Gazprom and the announcement that South Stream will go ahead as planned, there is a fair chance that Kiev will give up shares in its gas transport system
• The Turkish national gas pipelines operator, Botaş has refused to renew its 26-year contract to purchase 6 billion cubic metres (bcm) of Russian gas annually, which expired on the 31st of December 2011. Gazprom’s subsequent attempts to circumvent the national supplier have failed: The Turkish Ministry of Energy has refused applications by 26 companies for licences to import Russian gas
• PGNiG has filed an arbitration case against Gazprom for lower gas prices and greater spot-price element in contracts. Even if the Polish company ultimately succeeds in its aim, the process could drag on for months
• Gazprom plans to pay record dividends, estimated to be 200bn Roubles. However, shareholders should not expect such generosity from Gazprom next year: The size of Gazprom’s declared investment programme precludes similar profits next year.

• January 19, 2012

A deal with Washington to assuage Moscow's concerns about U.S. missile defense plans in Europe is still possible, but time is running out, Russia's foreign minister said Wednesday.

• January 17, 2012

Ukrainian tycoon Konstantin Zhevago, an MP with imprisoned former PM Yulia Tymoshenko’s party, reportedly needs the ČKD foundry and engineering works in Kutná Hora to save his rolling stock business and is offering Kč 485 million for the bankrupt firm. However, the Russian rolling stock manufacturer Rail Group has put forward an offer of Kč 691 million and a promise to invest Kč 1.8 billion in it.

• January 16, 2012

Ukraine plans to start compensating for reductions in the import of increasingly expensive Russian natural gas by buying the commodity this summer on the spot market, Ukrainian Energy and Coal Industry Minister Yuriy Boiko told reporters in Kyiv

• January 14, 2012