"The withdrawal of Azerbaijan from the Extractive Industries Transparency Initiative" (EITI) calls into question the receipt of credits under promising gas projects for gas supplies to Europe, writes the influential British newspaper Financal Times.
Baku's withdrawal from the organization puts the financial sponsors of the project in a difficult position, because a good commercial transaction, transparency and good governance will be in question, the newspaper writes.
The European Bank for Reconstruction and Development (EBRD), commenting on Baku's decision, notes that the EITI has a serious monitoring mechanism.
British BP, which is the largest foreign company in oil production in Azerbaijan, expressed disappointment in the EITI's decision. The company is not satisfied with the EITI's procedure to terminate membership in Azerbaijan, but also the disappointment of Azerbaijan from the EITI.
The World Bank, in turn, announced that it will promote transparency in the management of oil revenues of Azerbaijan.
Financial Times. Presenting his country as an ally of the West, and opposing the expansion of Russia's influence, President Ilham Aliyev is accused by the violating human rights, suppressing political dissent and opposition, writes Financal Times. -03D06-
Economics
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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
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There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
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