In this discussion, Piotr Zalewski, The Economist's Turkey correspondent, and Greg Karlstrom, the Middle East correspondent, tackle the resurgence of tensions between Azerbaijan and Armenia, linked to historical conflicts and the shifting influence of Russia. They explore how Azerbaijan's ambitions are bolstered by rising oil prices and what this means for the region. The conversation also touches on the new economic dynamics in Gulf countries, questioning whether they will invest responsibly or indulge in lavish spending.