Azeri-Armenian Fighting Rages as Putin, Erdogan Split on Truce

Source:Bloomberg Date:28Sep2020

While previous flare-ups have lasted only a few days, the scale of the fighting involving tanks, aircraft and artillery appears greater than at any time since Russia brokered a 1994 cease-fire to halt the war that killed about 30,000 and displaced more than a million people.

The crisis put fresh pressure on the Turkish lira and the Russian ruble, amid concerns the two powers could be drawn into the conflict. The lira sank to a record and the ruble was trading near its weakest since the peak of the coronavirus panic six months earlier.