it was the reason for Barbarossa, the first Germany defeat, and it was the only way Germany could replenish the oil used on the Russian offensive, which forced them to squeeze the polish camps dry. they lost it one baku.
it was also where most modern billionaires made their fortune.
Assuming you're talking about stategic defeats, I'm pretty sure the Battle of Britain was earlier. Possibbly North Africa too, but that's more debatable.
Could you explain this claim?
In this case, the Rothschilds were already a powerful European banking dynasty. There are many shadowy speculations about the different branches of this family. Perhaps this is where the confusion originates.
The Nobel family did better relative to their previous station. In the end the Baku concerns were sold to Rockefeller before being nationalized after the Russian Revolution.
also stalin journalism career took off there.