Stalled implementation of a 2023 Washington-brokered agreement between Armenia and Azerbaijan raises regional stability concerns.
A provisional peace agreement signed last August by Armenia and Azerbaijan, with US mediation, has seen little progress in its first year. Officials from all three nations continue to express optimism, but concrete steps toward implementation remain limited, according to recent statements.
The deal, signed by Armenian Prime Minister Nikol Pashinyan and Azerbaijani President Ilham Aliyev, aimed to ease decades of conflict over the Nagorno-Karabakh region. US Secretary of State Marco Rubio marked the anniversary by reaffirming Washington’s support, though no new milestones were announced.
Markets have monitored the situation for potential disruptions to energy and trade routes in the South Caucasus, a key corridor for oil and gas exports.