Russia rules out asset seizures unless EU confiscates frozen funds
Moscow says it will not seize European assets but warns it could reconsider if the European Union moves to confiscate frozen Russian sovereign funds....
Azerbaijan’s SOCAR will invest $7 billion in Türkiye’s petrochemical sector, reinforcing its role as the country’s largest foreign investor.
Ankara says Azerbaijan’s state owned oil and gas company has announved significant investment in Turkiye.
Turkish Vice President Cevdet Yılmaz has hailed the move, saying it will support major growth and macroeconomic stability in the country.
He says that preliminary engineering is complete under SOCAR Türkiye’s “Master Plan,” and the government hopes the project will move forward “as soon as possible,” reiterating that every dollar of domestic output will help narrow the current account shortages.
SOCAR is Türkiye’s biggest foreign investor with over $18 billion in energy, petrochemicals, and logistics.
Its wide ranging portfolio includes Petkim, acquired in 2008, which operates 16 plants and produces 2 million tons of petrochemicals yearly, equaling about 11% of Türkiye’s output.
SOCAR states the new capacity plan, approved in December, will be implemented in phases over a 5 to 10 year period.
This industrial complex ties into Türkiye’s 2053 net-zero agenda with Yılmaz referencing R&D, including sustainable aviation fuel, as a way to decarbonize heavy industry, while lifting export competitiveness.
Yılmaz highlighted closer coordination with Baku on boosting Azerbaijani gas flows and opening the door for Turkmen gas to be transferred through Azerbaijan and Türkiye.
He also mentioned the new gas supply to Syria, routed through Türkiye, to restart power plants with 1,200 megawatts of capacity, converting gas to electricity as part of Syria’s reconstruction push.
The next steps include site selection and financing for the new complex, alongside deeper Türkiye-Azerbaijan cooperation on energy and regional connectivity.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
A tsunami threat was issued in Chile after a magnitude 7.8 earthquake struck the Drake Passage on Friday. The epicenter was located 135 miles south of Puerto Williams on the north coast of Navarino Island.
The war in Ukraine has reached a strategic impasse, and it seems that the conflict will not be solved by military means. This creates a path toward one of two alternatives: either a “frozen” phase that can last indefinitely or a quest for a durable political regulation.
A shooting in Nice, southeastern France, left two people dead and five injured on Friday, authorities said.
Snapchat will start charging users who store more than 5GB of photos and videos in its Memories feature, prompting backlash from long-time users.
Armenian Prime Minister Nikol Pashinyan has welcomed Azerbaijan’s decision to lift all transit restrictions on cargo shipments to Armenia, calling it a major step toward regional peace and economic cooperation.
Iran's economy is at risk of simultaneous hyperinflation and severe recession, officials and analysts say, as clerical rulers scramble to preserve stability with limited room to manoeuvre after a snapback of UN sanctions.
Memorandum of understanding signed during Turkish Health Minister Kemal Memisoglu’s official visit to Georgia.
The inaugural meeting of defence ministers from Central Asian nations took place in Samarkand, Uzbekistan.
The Georgian Defence Minister Irakli Chikovani was in Yerevan, Armenia on Monday for an official visit following an invitation by his Armenian counterpart Suren Papikyan.
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