Azerbaijan and Russia Step Up Trade and Investment Ties

Azerbaijan and Russia intend to accelerate the preparation of a concrete “roadmap” to address the aftermath of the December 2024 AZAL plane crash following talks between Azerbaijani President Ilham Aliyev and Russian Deputy Prime Minister Alexei Overchuk in Baku on March 2.

President Ilham Aliyev has signed a decree implementing amendments to Azerbaijan’s laws on the budget system, accounting and public procurement, consolidating oversight powers and formalizing the use of unified digital financial platforms under the Ministry of Finance.

The escalation of the crisis around Iran is already having a noticeable impact on the global oil market, pushing up prices and increasing volatility, while for Azerbaijan higher prices mean increased export revenues and the potential expansion of transit flows from Central Asia, analysts say.

The death of Iran’s supreme leader has shaken a region already accustomed to uncertainty. For Azerbaijan, which shares more than 600 kilometers of border with Iran and maintains complex economic and security ties, this moment is not merely a foreign policy challenge. It is a test of strategic equilibrium.