War and Peace, Raw Materials and Pipelines

Since the early modern period, Russia has financed itself not least through the export of raw materials. The Black Sea has played a key role in this since the 18th century. In both world wars, the desire to control raw materials played a central role. Today, Russian, Azerbaijani, Central Asian, Turkish, Ukrainian and Romanian interests in particular overlap, although significant shifts in the balance of power have emerged as a result of Russia’s war against Ukraine.