The crash of 2008 left huge numbers of unsold holiday flats along the Black Sea coast.
It has just agreed an extension of the Black Sea fleet's lease in Sebastopol, in Ukraine.
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And Bulgaria's oil refinery in Bourgas, on the Black Sea, could become a major supplier to Yugoslavia.
From the southern edge of the Caucasus mountains to the Black Sea, Georgia's landscape is spectacular and rugged.
Putin conducted the conversations by telephone from the Black Sea resort of Sochi.
In Russia in 2010 Chevron signed an exploration deal with Kremlin-controlled Rosneft to explore in the Black Sea region.
It will also coordinate the work of a group of NATO ships currently in the Black Sea, Interfax reported.
Oil is piped from the Caspian Sea to ports in the Black Sea, increasing Russia's anxiety to maintain control.
Its leader, Aslan Abashidze, runs an odd and throughly autocratic mini-state, Ajaria, on the Black Sea border with Turkey.
The small, Soviet-designed AN-24 plane was carrying 45 people from the Black Sea port of Odessa, according to emergency officials.
Hotels, condos, a stadium and gleaming Olympic ice palaces are sprouting from the Black Sea coastal lowlands, uprooting residential neighborhoods.
That odd beach vendor chant is the sound of summer in the Crimea, a small Ukrainian peninsula that juts into the Black Sea.
The July 2012 bombing at Burgas airport on the Black Sea coast was the deadliest attack on Israelis abroad since 2004.
It sits astride a Russian pipeline running from the oilfields of the Caspian Sea to the ports of the Black Sea.
The 30% discount on Russian gas Ukraine will enjoy following the Black Sea fleet deal will not reduce Naftogaz's hefty deficit.
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Over the years Gazprom has owned stakes in such things as a poultry farm and a resort on the Black Sea.
Depending on the results, exploration drilling could start as early as 2014 in the Black Sea and 2015 in the Kara Sea.
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With a year to go before the 2014 Winter Games, much of the Black Sea city is still a mass of scaffolding.
The Black Sea area of Russia has been particularly hard hit, with at least 58 deaths over the course of the weekend.
The world still remembers the eggs and smoke bombs thrown while voting to allow Russia access to the Black Sea in 2010.
While oil majors like BP are eagerly exploring Turkey's share of the Black Sea, they long ago gave up seeking big finds onshore.
Bush is slated to meet Sunday with Putin in the Russian resort city of Sochi on the Black Sea, according to RIA Novosti.
Four of the ships sank in the Kerch Strait, which connects the Black Sea and Azov Sea and separates Russia from Ukraine's Crimean Peninsula.
There is a call for the EU's new External Action Service to make the Black Sea region a priority for its staffing and structure.
The report calls on a specific budgetary allocation for the Black Sea strategy, with a priority on funding small-scale development projects and cross-border co-operation.
Turkey carefully implemented the Montreux Convention, which governs traffic through the Bosporus, so only a handful of American warships could enter the Black Sea.
This has given Western companies access to new opportunities, such as Exxon's recent deal with Russian oil giant OAO Rosneft to explore the Black Sea.
Austrian assertiveness as Ottoman influence declined was compounded with Russian determination to resist any encroachment that threatened her historic interests in the Black Sea region.
The bus carrying Israeli tourists was attacked by a suicide bomber at the airport of the Black Sea resort of Burgas on 18 July 2012.
The ships sank Sunday during a fierce storm which generated hurricane-force winds and gigantic waves in the Black Sea and the Azov Sea to the north.
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