Financal Times: Azerbaijan puts risks on gas projects

"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-