Last year the main consumers of Iranian oil, such as China, India, Japan and South Korea, decreased their import from Iran by 15% to 935,068 barrels a day. Before introduction of sanctions against Iran in 2013, this country exported approximately 2.2 million barrels a day and Tehran could lose up to $46 billion from reduction of deliveries.
In 2013 China reduced Iranian oil import by 2.2% to 428,084 barrels. Import of Iranian oil to India went down by 38% to 195,600 barrels a day. South Korea’s demand in Iranian oil decreased by 14.3% to 134,000 barrels, Japan’s – by 6.4% to 177,041 barrels a day - a minimum since 1981.
The relationships between the western countries and Iran have improved after achievement of a temporary agreement on the Iranian nuclear program in November 2013. But despite that experts doubt that Iran will be able to restore export within a short period, because of lack of a final agreement on the Iranian nuclear program, http://angi.ru.--0--
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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