46
International Context of the New Era and the Caspian Region
In this chapter, we focus on major actors and players in the region, in addition to the
five littoral states of the Caspian Sea other regional and global powers have own
interests in the region and trying to use all objectives to get more benefits in the
region. In this chapter, the energy policies vis-à-vis the Caspian of all major actors,
including regional and international institutions will be explored. The impact of
each actor in relation to other regional organizations, such as the “Shanghai
Cooperation Organization” will also be investigated. In the first part of this chapter,
we focus on five littoral states, followed by regional and global actor’s operating
influence in the region. A run-down of current and potential future transit pipeline
projects will be discussed, along with the Caspian as an element of wider reaching
grand visions, such as China’s “One Road, One Belt.”
Economists, politicians, and policymakers will continue to be highly interested
in the Middle East as long as it continues to possess the biggest oil reserves. The
Middle East, where there are huge oil reserves in countries such as Saudi Arabia, the
United Arab Emirates, Kuwait, Iraq, and Iran, and oil-producing organizations, such
as OPEC countries, are leading entities in the world oil market. As asserted by
Hudson, the Arab economy is being transformed fundamentally owing to oil, which
is closely associated with domestic, local, and international politics, since there are
discussions among Arabs as to who should control the oil and in what ways the oil
reserves should be utilized (Milton-Edwards 2011:90). Since major oil reserves
were discovered in the 1920s and oil-producing fields were established, the undignified struggle to take advantage of Arab and Persian oil continued for some time in
the twentieth century. The oil era is full of disturbing events. Among these, we can
list the European and American exploitation of reserves, the 1973 oil boycott to
stabilize oil prices, the Iranian Revolution, and the three wars in the Gulf, namely
the Iran-Iraq war between 1980 and 1988, the Gulf crisis between 1990 and 1991
and the Operation Desert Storm, which was led by America subsequent to the invasion of Kuwait by Iraq, and the invasion of Iraq by the US in 2003 (Milton-Edwards
2011:90).
Post-Soviet Political Economy
It is essential to have an understanding of the science of economics to comprehend
the international political economy, yet this book specifically dwells on the interactive connections of markets and the actors that play a role in the political arena. An
understanding of economics only would create an inaccurate depiction and is not
sufficient to analyses important issues, such as the worldwide distribution of wealth
and economic activities, the impacts of the world economy on domestic interests,
and the efficacy of international regimes. The writer of this book opposes the notion
that the global economy is currently governed by universal economic laws and
3 International Context of the New Era and the Caspian Sea Region
International Context of the New Era and the Caspian Region
In this chapter, we focus on major actors and players in the region, in addition to the
five littoral states of the Caspian Sea other regional and global powers have own
interests in the region and trying to use all objectives to get more benefits in the
region. In this chapter, the energy policies vis-à-vis the Caspian of all major actors,
including regional and international institutions will be explored. The impact of
each actor in relation to other regional organizations, such as the “Shanghai
Cooperation Organization” will also be investigated. In the first part of this chapter,
we focus on five littoral states, followed by regional and global actor’s operating
influence in the region. A run-down of current and potential future transit pipeline
projects will be discussed, along with the Caspian as an element of wider reaching
grand visions, such as China’s “One Road, One Belt.”
Economists, politicians, and policymakers will continue to be highly interested
in the Middle East as long as it continues to possess the biggest oil reserves. The
Middle East, where there are huge oil reserves in countries such as Saudi Arabia, the
United Arab Emirates, Kuwait, Iraq, and Iran, and oil-producing organizations, such
as OPEC countries, are leading entities in the world oil market. As asserted by
Hudson, the Arab economy is being transformed fundamentally owing to oil, which
is closely associated with domestic, local, and international politics, since there are
discussions among Arabs as to who should control the oil and in what ways the oil
reserves should be utilized (Milton-Edwards 2011:90). Since major oil reserves
were discovered in the 1920s and oil-producing fields were established, the undignified struggle to take advantage of Arab and Persian oil continued for some time in
the twentieth century. The oil era is full of disturbing events. Among these, we can
list the European and American exploitation of reserves, the 1973 oil boycott to
stabilize oil prices, the Iranian Revolution, and the three wars in the Gulf, namely
the Iran-Iraq war between 1980 and 1988, the Gulf crisis between 1990 and 1991
and the Operation Desert Storm, which was led by America subsequent to the invasion of Kuwait by Iraq, and the invasion of Iraq by the US in 2003 (Milton-Edwards
2011:90).
Post-Soviet Political Economy
It is essential to have an understanding of the science of economics to comprehend
the international political economy, yet this book specifically dwells on the interactive connections of markets and the actors that play a role in the political arena. An
understanding of economics only would create an inaccurate depiction and is not
sufficient to analyses important issues, such as the worldwide distribution of wealth
and economic activities, the impacts of the world economy on domestic interests,
and the efficacy of international regimes. The writer of this book opposes the notion
that the global economy is currently governed by universal economic laws and
3 International Context of the New Era and the Caspian Sea Region