Bush is due to meet Putin on Sunday in the Russian Black Sea resort of Sochi.
The crash of 2008 left huge numbers of unsold holiday flats along the Black Sea coast.
For now, the sole working route to Russia's Black Sea coast runs through Dagestan and Chechnya.
It has just agreed an extension of the Black Sea fleet's lease in Sebastopol, in Ukraine.
ECONOMIST: Russia, NATO and Europe: Marching through Red Square | The
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.
More tourists are arriving as Bulgaria's scruffy Black Sea resorts, built as playgrounds for Soviet workers, are done up.
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.
But the bulk of this output is expected to flow through a new line running to Russia's Black Sea coast.
It sits astride a Russian pipeline running from the oilfields of the Caspian Sea to the ports of the Black Sea.
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.
FORBES: What Is The Political Risk Of The ExxonMobil-Rosneft Deal In The Arctic?
Russia also continues to push South Stream, a Russian-backed Black Sea pipeline.
Its Black Sea fleet is not escorting Russian sanctions-busters into the Adriatic.
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.
Most of its fuel and much of its grain comes through Georgia's Black Sea ports, which have been paralysed by the war.
ECONOMIST: A large NATO country ponders a bigger role in the Caucasus
Bulgaria, whose Black Sea resorts are a popular destination for Israelis, has not speculated on who may have been responsible for the attack.
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.
Moscow's powerful mayor, Yuri Luzhkov, makes sure that young men from his city serve either locally or on Russia's balmy Black Sea coast.
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.
If fully realised, these additions could exceed the capacity of the Caspian Pipeline Consortium's first- and second-phase pipelines to the Russian Black Sea coast.
应用推荐