The article examines Armenia’s newly published Karabakh negotiation documents and situates them within decades of diplomatic maneuvering that shaped the outcomes of 2020–2023. It highlights Azerbaijan’s strategic use of international law, military precision, and political foresight, culminating in restored territorial integrity, full sovereignty, and the early departure of Russian peacekeepers.
The South Caucasus is undergoing a major strategic reconfiguration following Azerbaijan’s restoration of sovereignty and the end of the territorial dispute. Despite new diplomatic openings, regional order remains uncertain, shaped by competing external actors, Armenia’s domestic constraints, and unresolved debates over connectivity, governance, and long-term frameworks for sustainable stability and cooperation.
Global oil oversupply, rising U.S. inventories, and weak demand in China and elsewhere are keeping prices below Azerbaijan’s budget assumptions. Forecasts for 2026 show a widening surplus, pressuring revenues. Azerbaijan is responding with a conservative fiscal stance, reduced SOFAZ transfers, stronger non-oil income, and sustained reconstruction spending.
A commemorative cultural-academic event in Bern highlighted the Victory Day of Azerbaijan and the 140th anniversary of Üzeyir Hajibeyli, presenting Dr. Elmir Mirzoev’s new monograph. Distinguished guests addressed cultural diplomacy and diaspora engagement, followed by a concert programme celebrating Azerbaijani musical heritage.