Azerbaijan’s state energy firm SOCAR said it had completed its engagement in the management of Antipinsky oil refinery in Russia, the company said in a joint statement with Russia’s Sberbank.

The well-funded agitation to derail a hydro project in Georgia has the potential to ruin the country's reputation, and severely damage relations with Turkey and Azerbaijan.

The buildup had spawned widespread speculation that the Kremlin was preparing a wide scale invasion. It already controls large parts of eastern Ukraine – the Donbass region – via proxies it supports militarily and financially.

Kazakhstan has flooded international TV channels with flashy advertisements trumpeting the country’s investment climate.