The **Organization of the Black Sea Economic Cooperation (BSEC)** is a multilateral intergovernmental organization established in 1992 with the primary goal of promoting economic collaboration, peace, stability, and prosperity in the wider Black Sea region. It includes 12 member states: Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Serbia, Turkey, and Ukraine, encompassing a strategically vital zone bridging Europe and Asia[1][2][3]. BSEC was founded at the Istanbul Summit on June 25, 1992, and its Permanent International Secretariat (PERMIS) is based in Istanbul. The organization’s structure features a Council of Ministers for Foreign Affairs as its central decision-making body, which meets biannually. It also has a Parliamentary Assembly (PABSEC) providing consultative support, a Business Council fostering public-private cooperation, and the Black Sea Trade and Development Bank (BSTDB), which finances regional projects with support from institutions like the European Investment Bank and the European Bank for Reconstruction and Development[2][3][4]. BSEC’s activities span a wide range of economic and social sectors including transport and communication infrastructure, trade, agriculture, banking and finance, environment, tourism, culture, and education. It facilitates information exchange and joint initiatives on counterterrorism, scientific research, and legislative harmonization among member states. The organization also actively cooperates with international partners such as the UN, EU, and various regional associations to enhance regional integration and development[1][4][5][6]. Over its more than 30 years of existence, BSEC has become the oldest and most representative regional economic organization in the Black Sea area, successfully managing complex geopolitical sensitivities among member states with diverse affiliations (EU, Eurasian Economic Union, and others). It plays a crucial role as a geostrategic hub for energy, transport, and trade routes connecting Europe and Asia, contributing significantly to regional stability and economic growth[
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A look at the recent meeting between Russia's President Vladimir Putin and US President Donald Trump, and its implications on the ongoing war in Ukraine and the relationship between the two countries.