SCO Summit 2014: Beginning of the Summit and new EU sanctions against Russia

SCO Summit 2014: Beginning of the Summit and new EU sanctions against Russia

SCO Summit 2014: Beginning of the Summit and new EU sanctions against Russia

Opinion

By Tabana Sharifov for Dispatch News Desk 

Presidents of Uzbekistan, China, Russia, Kazakhstan, Kyrgyzstan and Magnolia have reached Dushanbe, Tajikistan to attend SCO Summit 2014 that is 13th SCO annual Summit. The official part of the Summit of Heads of the SCO Member States will be held on September 12 in “Kokhi Navruz”.

European Union has chosen September 12 to impose further bans on Russia—the day when Shanghai Cooperation Organization (SCO) summit (SCO) meeting will start in Dushanbe. Chinese President Xi Jinping met Russia President Putin ahead of inauguration of SCO summit to discuss future of the region. Further bans on Russia from EU are a litmus test to check how Russia reacts during SCO summit over constant sanctions being imposed by West on it.

The head of the European Council Herman Van Rompuy confirmed that the EU will announce a new round of sanctions against Russia over Ukraine on September 12. The economic sanctions will reportedly target Russia’s energy sector. Russia is already diverting its energy exports towards East—to China therefore such sanctions may not be as disastrous as expectations of EU. Russian energy companies and defense organizations will be restricted from raising long-term debt on European capital markets.

Russia is facing complete isolation in West over Russia-Ukraine crises therefore it is looking more into Far East, South America and Central Asia is its home ground since long. Delegates arriving in Dushanbe believe the top points to be discussed in Summit will be Security issue in Afghanistan and economic integration of SCO member countries. There is possibility Russia may offer cheaper energy supplies to all SCO member states because it needs a big market after losing Western market from where Russia made money during the last 10 years. NATO-Russia standoff will increase in future therefore Russia understands that West will minimize its energy dependency on Russia. According to initial reports about agenda of summit, SCO summit will discuss the issues of regional security, enhance economic and investment cooperation and cooperation in the transport sector.

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Pakistan, Iran, India and Mongolia have status of observers but they will be given status of Full Members during this Summit. Afghanistan. Belarus, Sri Lanka and Turkey have the status of dialogue partner of the SCO.

President of Russian Federation Vladimir Putin, President of Mongolia, Tsakhiagiin Elbegdorj, President of the Republic of Uzbekistan Islam Karimov, Chinese President Xi Jinping and President of the Republic of Kazakhstan Nursultan Nazarbayev have already reached Dushanbe.

 

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