Eurasia

Recent Articles

The third anniversary of the unjust imprisonment of NRGI advisory council member Ilgar Mammadov comes at a grave inflection point for Azerbaijan. The government, made wealthy by Caspian oil deposits, is now on its knees due to cratering oil prices.

In this era of low commodity prices, oil- and mineral-rich governments in Eurasia are under acute financial pressure.

In November 2015, PWYP members from across Eurasia met in Ulaanbaatar for an NRGI-led training session to discuss common extractives governance challenges their countries face. Shrinking civil society space was a dominant concern.

Ukraine released its first Extractive Industries Transparency Initiative report in December 2015, an important step forward in resource governance for the country. Its publication coincided with the EITI International Secretariat meeting in the country and related events in Odessa and the capital, Kiev.

The prolonged oil slump that began in mid-2014 has made things complicated for Azerbaijan. The rapid decrease of oil revenues—the country’s main economic driver for the past 10 years—poses real threats to macroeconomic and financial stability in Azerbaijan.

In the last decade, governments of resource-rich countries like Zambia, Guinea and Mongolia have struggled to tax their extractive industries more effectively. It is a tall order—countries must design an inescapable tax regime that taxes companies more in times of high profits and allows some relief in periods when gains are low.