Azerbaijan news

Did Russia transfer rubles to Azerbaijan and take dollars? |

Today from Russia To Azerbaijan a new money transfer system has been introduced. According to official information, this system called “Granet” (Pomegranate) is in cooperation with “Azerpocht” LLC under the Ministry of Digital Development and Transport.Azerbaijan International Bank – Moscow” began to operate as a result of the cooperation of LLC.

According to information, already through that system Russia from the Federation To Azerbaijan Citizens will be able to receive the transferred money from the central post offices of the republic.

After Russia’s invasion of Ukraine in February of this year USA and its allies extended sanctions against Russia. (Sanctions against Russia began after the annexation of Crimea in 2014) Many Russian banks have been excluded from the SWIFT system for months. Russia with Azerbaijan cooperation in this field is being developed between Before that, there were “Zolotaya corona” and “Contact” systems between the two countries.

Azerbaijan According to the Central Bank, from Russia in the first quarter of this year To Azerbaijan 99.7 million dollars funds has moved This is an annual comparison 20.24 million dollars, or 17 percent decrease. But, for now, further statistics are not disclosed.

Azerbaijani officials, for now, in this field Russia they note that they do not see any problems in cooperation with National Member of the economic policy, industry and entrepreneurship committee of the Assembly Unit Ahmadov to work “Turan“a said that the world actually isolated Russia, but Azerbaijan It has certain economic relations with Russia: “We import certain goods from there, we export certain goods there. This should also be taken into account.”

However deputy considers that there is no need to create a new money transfer system: “Because until today there has been no serious problem with money transfer. It is possible that they want to make some changes in their payment system because of the problems with the dollar in Russia. But in my opinion, there is no need to create a new system.”

The committee member noted that this may not be understood correctly in the international world: “Because Russia is practically isolated, due to its occupation of Ukraine. That’s why we have to be a little careful in these matters.”

Businessman, economist Nazim Beydamirli also told RFE/RL that with Russia Azerbaijan it is impossible to cut economic ties: “Because Russia-Ukraine Before the war, Russia’s share in our imports was 15 percent, and our share in exports to Russia was about 4 percent. At the same time, it’s no secret that Russia uses countries like Kazakhstan and Azerbaijan to evade many sanctions imposed on it.”

He says that the Russian Central Bank’s policy of determining the exchange rate of the ruble in the last few months is causing quite a serious blow to Azerbaijan’s economy: “Our official institutions should not accept the exchange rate that the Russian Central Bank forced us to accept when determining the exchange rate of the ruble against the manat. Because we have it from Russia food the main reason for the increase in the price of its products is that Russia sets an artificial exchange rate in the name of strengthening its ruble. The exchange rate currently used by Russia is from the real exchange rate 10-15 percent lower.”

According to the economist, the creation of such new money transfer systems benefits Russia more: “Russia transfers its ruble here, exchanges it for dollars and returns it to the country. Most of the remittances to Azerbaijan are from here dollars be removed. This is the logic of trading in rubles. This is Russia’s policy of economic expansion.”

Ishadam believes that this may lead to undesirable consequences for Azerbaijan: “USA recently warned Turkey not to help mitigate the effects of sanctions. True, the volume of our trade with Russia Turkey-It is much lower compared to Russian trade and USA he does not see it as a threat. But if this process reaches a certain limit, America can apply sanctions against Azerbaijan.”

On February 22 this year in Moscow President of Azerbaijan Ilham Aliyev and Vladimir, the President of the Russian Federation Putin He signed the “Declaration on mutual cooperation between the Republic of Azerbaijan and the Russian Federation”.

Between the two countries in the document military, political, cooperation in economic and other fields is discussed. Article 28 of the declaration states that the parties in mutual settlements national to use currencies, bank will enable the mutual compatibility of payment systems, including the joint service of cards, as well as the development of direct correspondent relations between the banks of the two countries.

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