The US authorities have prolonged temporary mitigation of sanctions against Iran by six months – such countries, as China, India and Korea are not going to be objects of the US sanctions for the trade relationships with Iran in exchange for a significant reduction of purchase of Iranian crude oil, reported Reuters.
The US Department of States must determine if the Iranian oil consumers have reduced their purchases. The decision to temporary suspend sanctions was made after the US and five other world countries agreed in Geneva in November 2013 to mitigate sanctions against Iran in exchange of partial suspension of the nuclear program by Iran.
“We will continue aggressively applying sanctions within the next six months as we will keep on working on the decision, which will make us sure that the Iranian nuclear program is carried out exceptionally for the peaceful purpose,” reads the official statement of the US Secretary of State John Carrey.—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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