The Moscow Arbitration Court dismissed the petition of the Bank of Moscow for the arrest of the property at $213 million, owned by AST Telman Ismailov. The reason for the suit is the desire of the bank to recover from the oligarch, having Azerbaijani origin, the debt of $ 197.3 million, RBC reports.
According to the newspaper "Kommersant", the businessman tried settle without court the issue with the repayment of the loan problem by selling his real estate in the capital of Russia (according to some sources, it was the restaurant "Prague".) But the deal fell through, and in late July, the Bank of Moscow appealed to the court.
According to the publication, other creditors also have claims to Ismailov. For more than a year ago, a group "Mangazeya" by Sergei Yanchukova through a court in Cyprus frozen the assets of the Ismailov and sued for $100 million. However, "Mangazeya" failed to obtain effective control over the assets of billionaire.
In late June, Ismayilov was close to losing Mardan Palace in Turkey.
Due to the multi-million dollar debt Turkish bailiffs were going to put the hotel up for sale, but at the last moment Ismailov was able to negotiate with the Turkish bank Xalk bankasi debt restructuring. Businessman has pledged to pay $100 million over the next four years. -02D-
Economics
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The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
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On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
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Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
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Azerbaijan Railways (AZD) has launched rail transit shipments from Zira Port, located 45 kilometers east of Baku, strengthening the country's position as a logistics hub on the Middle Corridor.
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