Date first published: 19/08/2025
Key sectors: all; transportation
Key risks: war-on-land; business and economic
Risk development
On 8 August Armenian President Nikol Pashinyan and Azerbaijani President Ilham Aliyev signed a joint declaration pledging to end their decades-long conflict during a meeting with United States (US) President Donald Trump in Washington. The deal grants the US exclusive rights to develop the Zangezur trade corridor – rebranded as the Trump Route for International Peace and Prosperity (TRIPP) – connecting Azerbaijan to its Nakhchivan exclave through Armenian territory, previously Baku’s key demand. It marked a key advance in protracted peace talks and signalled the US’s rise and Russia’s retreat as peace brokers in the South Caucasus. However, the declaration has left several major sticking points unresolved, threatening the ratification and implementation of an official peace agreement.
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