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Russian companies’ profit from investments in Azerbaijani economy reaches $2B - minister

Tuesday, August 9
Relations between Azerbaijan and Russia are developing actively in all directions, said Azerbaijan’s Economy Minister Shahin Mustafayev.

Mustafayev made the remarks on Aug. 8 during an expanded meeting of the Azerbaijan-Russia and Russia-Azerbaijan business councils in Baku.

The minister said that currently, bilateral relations are developing actively both in the economic sphere and in the sphere of mutual investments.

“Russia’s investments in Azerbaijan are estimated in billions,” noted Mustafayev. “Russia invested $2.8 billion in the oil sector of Azerbaijan’s economy alone.”

Meanwhile, the profit of Russian companies from these investments have already reached $2 billion, he added.