USA: Intermediate agreement not to allow Iran increasing oil sales at world market
The intermediate agreement on Iran’s nuclear program will not allow Iran increasing oil sales at the world markets, reads the statement of the US administration released on November 24, 2013. The western investors are still banned from working with Iran. The statement reads that the US plans to toughen the sanctions against the Iranian oil industry are postponed.
According to the sanctions applied by the US and European Union, Iranian oil export is limited to 1 million barrels a day. Iran was earlier allowed to sell up to 2.5 million barrels of oil a day at the world market, reported http://www.dw.de.
Voice of Russia reported that the US authorities have unfrozen the Iranian assets worth $8 billion after the agreement on the nuclear program has been reached in Geneva.—0---
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review