Archives Economic cooperation - Page 19 of 21 - New Eastern Outlook

Iran is attempting to create a gas alliance involving Qatar. While Turkey is attempting to rescue the grain deal, Iran is actively promoting the concept of establishing a gas hub of its own. The gas swap between Turkmenistan and Azerbaijan via Iran served as a test phase. Later in November 2022, Russia and Iran started researching the idea of swapping gas supplies, which initially would be around 10 billion cubic meters per year. Iran formally proposed to Russia and Turkmenistan a large-scale gas swap in February 2023, in which Russia would get gas in the north and Turkmenistan would supply it in exchange in either direction in the south. They specifically discussed deliveries of gas to Pakistan, near whose border Iran is building a gas pipeline with a capacity of 100 million m3/day of gas (about 36.5 billion m3/year), opening up the prospect of supplying India in the future.

For fear of a negative US reaction, Hanoi stayed out from SPIEF 2023, one of the world’s largest business forums. The 26th annual St. Petersburg International Economic Forum concluded on June 17 in Russia, with the goal of building commercial partnerships and expanding contacts with trading partners. Participants in SPIEF 2023 have begun to develop a new trust zone and a bloc of sovereignty-seeking countries eager to build bridges of understanding…

Following active US diplomacy over the past few years, Europe seems to have now decided to say no to the US geopolitics of “decoupling” from China. This is nothing short of a major diplomatic blow for the US, although this blow has not received as much attention in the mainstream Western media due to its overt focus on events related to the Russia-Ukraine conflict. The recent visit of Chinese Premier Li Qiang to Europe, where Li not only met the German Chancellor but also addressed a conference on development financing organised by French President Macron. More than that, the fact that two of the European Union’s most powerful…