Energy

The visit of the Syrian leader, Ahmed al Sharaa to Baku on 12 July was short but highly significant. The discussions between al Sharaa and president Ilham Aliyev of Azerbaijan were substantive and covered a number of areas, including Syria's complicated relationship with Israel, and Syria's energy crises. Talks between Syria and the Azerbaijani oil and gas company SOCAR have been on-going to for several months, and during al Sharaa's visit a Memorandum of Understanding was signed, formalising the relationship. Azerbaijan is reported to be going to supply Syria with gas via Turkiye. During the discussions the possibility of using the facilities of the Turkish State energy company, Botas, was also discussed, and the plan is to use the newly constructed Kilis-Azaz-al Bab-Aleppo pipeline. According to various Syrian, Israeli and Azerbaijani sources a meeting also took place in Baku on 12 July between Syrian and Israeli officials regarding possible normalisation of relations

The European Union is seeking to reduce the price cap on Russian oil from $60 to $45 per barrel. This should make it more difficult for Russia to finance its war against Ukraine. The EU also intends to discourage investment in the Nord Stream 1 and 2 gas pipelines.