As of the start of 2024, the proportion of trade transactions between Russia and Azerbaijan conducted using their respective national currencies—the ruble and the manat—has reached 54%, Russian Ambassador to Azerbaijan Mikhail Yevdokimov told in an interview with Izvestia.
Yevdokimov explained, "At the beginning of this year, the use of national currencies of Russia and Azerbaijan exceeded 54%, indicating a move towards greater reliance on our own currencies in our economic interactions with Baku." He attributed this development to Western sanctions, suggesting that these sanctions may inadvertently foster closer ties between Russia and Azerbaijan.
The ambassador highlighted several key economic projects that exemplify the depth of industrial collaboration between the two countries. These include the operations of the Russian automaker KAMAZ in Azerbaijan, as well as initiatives aimed at supplying cars for the Baku subway and other forms of public transportation. Yevdokimov emphasized that these endeavors extend beyond mere purchases; they encompass the establishment of assembly, localization, and maintenance facilities for the supplied vehicles within Azerbaijan, underscoring the strategic importance of these partnerships.
GSV "Russia - Islamic World"
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Based on materials from TASS