The South Caucasus must be ready to take potential business opportunities presented by the conflict in Iran. That’s the opinion of Rusif Huseynov, from the Topchubashov Center think tank, who suggested that investors spooked by instability in the Middle East may shift their focus to the region.
Speaking on AnewZ Day Break programme on Tuesday (3rd March), Huseynov, Director of the Baku-based thinktank, said, “Our geopolitical significance has been elevated, especially in terms of connectivity, but for other reasons as well. Even if the conflict around Iran is coming to an end tomorrow, the instability in the Middle East will definitely last for some time.
“It will scare away investors, businesspeople, [and] other companies who want to deal with the region. And in this case, the South Caucasus may receive huge business opportunities… We must be prepared [to be] able to digest these opportunities.”
Since conflict broke out in Iran and the wider Middle East region at the weekend, flights have been rerouted above Armenia, Azerbaijan and Georgia. Flight trackers show a bottleneck of planes above the South Caucasus, while Iranian airspace remains closed.
Meanwhile the tourism and business hubs of Dubai in the United Arab Emirates (UAE) and Doha in Qatar have been rocked by Iranian missile strikes that have caused airports to suspend flights or close entirely.
Huseynov warned, however, of the risk of the conflict spilling over to Armenia and Azerbaijan and the refugee crisis this could spark.
“The spillover effect of the conflict in and around Iran… would be the worst nightmare for all three South Caucasus countries. [...] It's about the possible exodus of Iranian refugees northward. It can be a humanitarian catastrophe.”
Huseynov added that leaders in Armenia, Azerbaijan and Georgia should make efforts to achieve de-esculation between Iran and the USA. But he admitted that such an outcome was “complicated” to bring about at present.
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Start your day informed with the AnewZ Morning Brief. Here are the top stories for 4 July, covering the latest developments you need to know.
Russian President Vladimir Putin has congratulated U.S. President Donald Trump on the 250th anniversary of American independence, saying Russia and the United States share a special responsibility for maintaining global security as the world's two largest nuclear powers.
China said on Saturday it had launched a coast guard patrol east of Taiwan, prompting a strong protest from Taipei, which accused Beijing of illegally expanding its authority and undermining regional stability.
Armenia's parliament has passed a new law raising the requirements for citizens living abroad to vote in national elections, following concerns over alleged efforts to influence last month's parliamentary vote through Armenian citizens residing in Russia.
India is investigating a data breach at Tata Electronics that exposed sensitive documents linked to Apple's unreleased iPhone 18 Pro, marking the government's first public comments on the incident.
The World Meteorological Organization (WMO) has raised its forecast for the rapid emergence of a strong El Niño, warning the climate pattern is likely to drive higher global temperatures and intensify extreme weather in the months ahead.
Iran and the U.S. have concluded indirect talks in Doha without a major breakthrough, with discussions focused on maritime traffic in the Strait of Hormuz and frozen Iranian funds. Both sides are expected to meet again after the funeral of Ayatollah Ali Khamenei.
International politicians and religious leaders have paid respects to Iran's late Supreme Leader Ali Khamenei throughout the day, ahead of his six day funeral ceremony which begins on Saturday. His casket is currently on display at the Iman Khomeini Grand Mosalla in Tehran.
Eight Buddhist monks were killed and more than 20 others injured after an 11-year-old boy driving his parents' pickup truck ploughed into a religious procession in north-eastern Thailand, police said.
Armenia's parliament has passed a new law raising the requirements for citizens living abroad to vote in national elections, following concerns over alleged efforts to influence last month's parliamentary vote through Armenian citizens residing in Russia.
International politicians and religious leaders have paid respects to Iran's late Supreme Leader Ali Khamenei throughout the day, ahead of his six day funeral ceremony which begins on Saturday. His casket is currently on display at the Iman Khomeini Grand Mosalla in Tehran.
Georgia’s only oil refinery will stop using Russian crude oil by September to preserve access to Western markets, its operator has said.
Iran has begun talks with Japan about selling oil to Japanese companies, according to Iranian and Western sources. The discussions come less than a month after the U.S. eased decades-old sanctions on Iranian oil as part of efforts to secure a final peace deal with Tehran.
At least 40 people were killed after a passenger bus plunged off a highway into a ravine in southwestern Pakistan, officials said on Friday (3 July).
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