Azerbaijani oil assets increased

Oil assets of Azerbaijan as of July 1, 2012 have increased by almost 10% compared with the beginning of this year up from $29 billion to $32 billion. The Director of the Azeri state oil fund, Shakhmar Movsumov, promised that by the end of this year, the country is going to purchase an extra 7.5 tons of gold. To diversify reserves the fund is going into Australian state bonds. They also plan to increase purchasing real estate in European countries: London, Paris, Rome, Istanbul, Moscow as well as Singapore, Malaysia and Tunisia.