The South Stream Project and the European Union's Energy Supply Security

After the project of Trans-Anatolia Natural Gas Pipeline (TANAP) was signed between Turkey and Azerbaijan, the South Stream project was signed between Turkey and Russia, yesterday. Russia reaches Southstream agreement with Turkey. Russia has said it has reached an agreement with Ankara permitting Moscow to bed down the Southstream natural gas pipeline to Europe via Turkish territorial waters. The agreement of the construction of South Stream was...

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North Korean leader Kim Jong-il dead

Chosun Central News Agency (KCNA) reported on the morning of the 19th that North Korean Leader Kim Jong Il died on his private train due to overwork on the 17th at 8:30 a.m. In a short dispatch, KCA stated, "Chariman Kim passed away in the train on December 17th, 2011 at 8:30am due to physical overwork." He took the helm of the communist state upon the death of his father and national founder Kim Il-sung in 1994. His successor, Kim Jong-il...

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Putin's party wins but suffers setback in Russian Duma Election

Today's parliamentary elections in Russia, Vladimir Putin's ruling United Russia Party had won the day. Putin's United Russia Party won 49.5 percent of votes, a significant drop from their current two-thirds majority in parliament with a decline from 315 seats to around 220 in Russia's 450-seat State Duma - lower house of parliament after Sunday's election. Putin's party won 64 percent of the vote in 2007, but his party won 50 percent of...

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10 years of BRIC countries

Ten years ago, Goldman Sachs' global economist Jim O'Neill introduced the BRIC statement into our lives. He argues that "the economic potential of Brazil, Russia, India and China is such that they could become among the four most dominant economies by the year 2050" (Financial Times, 2006). Since 2001, the BRIC countries continued to develop rapidly. 2008 Financial Crisis affected even if they are not influenced much of Europe and America....

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