The economic consequences of war rarely remain confined to the battlefield. They ripple through markets, supply chains and investor confidence. For Türkiye, at the crossroads of Europe, the Middle East and Eurasia, the economic shockwaves from the latest Middle East crisis are already being felt.
Global oil prices reached a four year high on Monday (9 March), surpassing $119 a barrel, as conflict in the Middle East rumbled on. Meanwhile, the Turkish Military said NATO air defence systems destroyed a missile fired from Iran towards the country.
British energy major Shell has signed a new exploration contract with Kazakhstan’s Ministry of Energy for the Zhanaturmys block in the Aktobe Region, expanding the company’s upstream presence in one of the country’s most promising hydrocarbon basins.
Britain imposed its largest package of sanctions on Russia in years on Tuesday (24 February), marking the fourth anniversary of Moscow’s invasion of Ukraine, as London also announced fresh military and humanitarian support for Kyiv.
Hungary has said it will block the European Union’s latest sanctions package against Russia unless oil supplies through the Druzhba pipeline are restored, deepening a dispute with Brussels and Kyiv over energy security.
The Russian Defence Ministry claimed on Saturday (21 February) that its forces had captured another settlement in eastern Ukraine.
Turkmenistan is preparing for a presidential visit to Brussels as the European Parliament considers ratifying a partnership agreement that has been stalled since 1998, with energy cooperation emerging as a key driver of renewed dialogue.
Azerbaijan and Serbia have formally launched a Strategic Partnership Council, marking a new phase in bilateral relations and placing cooperation under direct presidential oversight.
The United States has carried out its first air transport of a nuclear microreactor on a cargo plane, flying the unit from California to Utah in a demonstration designed to show the technology can be rapidly deployed for military and civilian use.
Azerbaijani President Ilham Aliyev and Serbian President Aleksandar Vučić reaffirmed their countries’ strategic partnership in Belgrade on Sunday (15 February), signing a series of cooperation agreements.
Russia launched a large-scale overnight attack on Ukraine’s energy system early on Saturday (7 February), hitting power generation and distribution facilities with more than 400 drones and around 40 missiles, Ukrainian officials have said.
Hungary has vowed legal action against the European Union over a planned ban on Russian gas imports by 2027, after Brussels said national objections would not override EU law.
Venezuela’s interim president Delcy Rodriguez said on Sunday the country should not fear pursuing energy ties with the United States, as Caracas seeks to expand oil and gas production and attract foreign investment.
Russia launched a combined drone and missile attack on Ukraine early on Tuesday, knocking out power and heating supplies to thousands of apartment buildings in Kyiv, Ukrainian officials said.
Two people were killed and dozens injured in overnight Russian drone attacks across Ukraine, as strikes on energy infrastructure left many regions without power amid freezing temperatures, President Volodymyr Zelenskyy said.
Ukraine has declared a state of emergency in its energy sector after sustained Russian attacks severely damaged power and heating infrastructure, Ukrainian President Volodymyr Zelenskyy said on Wednesday.
China has begun exporting a rapid blackout recovery technology designed to restore electricity in just 0.1 seconds, offering power grid protection to 12 countries facing rising risks of outages and instability.
A landmark agreement between Türkiye’s state pipeline operator BOTAŞ and Turkmenistan’s state-owned Turkmengaz marked a significant step forward in the energy ties between the two nations.
Emirati investment has become a central element of Azerbaijan’s renewable energy ambitions, prompting fresh focus on whether recent high-level visits were also aimed at accelerating a shift beyond oil and gas.
Uzbekistan has increased up electricity exports to Tajikistan as part of wider regional efforts to stabilise energy supplies during periods of seasonal shortage and reduced water availability.
Odesa residents remained without power for a third straight day on Monday (15 December) after a Russian missile and drone strike crippled the power grid on Saturday (13 December).
Greetings from Tripoli — a city that stands at the heart of Africa’s energy landscape and today hosts one of the continent’s key regional gatherings: the Libya–Africa International Gas Forum 2025.
Syrian President Ahmed al-Sharaa met on Tuesday with delegations from U.S. energy giant Chevron and the Syrian Petroleum Company to discuss potential cooperation in oil and gas exploration projects along Syria’s Mediterranean coast, the state-run SANA news agency reported.
Russian President Vladimir Putin received Hungarian Prime Minister Viktor Orban in Moscow, on Friday. The two leaders held detailed talks on Russian oil and gas supplies.
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