Abstract: Despite concerns about al-Qaida’s influence in Syria, the organization experienced a reversal in its fortunes over the course of the Syrian civil war. This article traces the history of the rise of Syria’s al-Qaida-loyalist outfit Hurras al-Din (“Guardians of the Religion”), its subsequent marginalization by the then dominant insurgent …

Executive Summary This report provides an analytical assessment of the North Caucasus Federal District (NCFD) based on developments presented at the Kavkaz Investment Forum 2025, recent macroeconomic data, and ongoing geopolitical dynamics. This analysis evaluates investment prospects, pinpoint sector-specific opportunities, and assesses the wider strategic ramifications of current regional economic …

Executive Summary This report examines Iran’s strategic posture in the South Caucasus following Deputy Foreign Minister Saeed Khatibzadeh’s remarks at the Yerevan Dialogue 2025 forum. Highlighting Tehran’s stance on regional stability, his address stressed the importance of an Armenian-Azerbaijani peace agreement and the Armenia-Iran corridor’s geopolitical significance. The analysis provides …