The speaker of parliament of the disputed Nakhchivan Autonomous Republic—a landlocked exclave of Azerbaijan—has met with Iran’s economy minister to voice readiness for the securing of more Iranian gas and electricity imports, Mehr News Agency reported on December 19.
Vasif Talibov reportedly told Masoud Karbasian that Nakhchivan—largely surrounded by Armenia on both sides and a territory disputed by Yerevan—had consumed 80mn kilowatt hours of energy from Iran and would require additional deliveries.
Apart from routes through Armenia, Nakhchivan, home to 440,000 people, can access the outside world along the Aras river leading to Iran and via an 8-km border with Turkey. The river link is essential to the exclave when it comes to imports.
Nakhchivan generates a hydroelectricity surplus using a hydroelectric dam set on the Araz reservoir located on the Aras river. Talibov reportedly informed Karbasian that the Nakhchivanis very much want talks with Iran to discuss exporting the surplus to the Islamic Republic.
Karbasian said Iranian exporters could certainly benefit from further bilateral trade potential with Nakhchivan and he pointed out that there is more scope for two-way cross-border tourism.
Related Articles
IMF says Azerbaijan’s banking sector stronger but systemic vulnerabilities persist
The International Monetary Fund (IMF) has concluded that Azerbaijan’s financial system has made considerable progress in strengthening resilience since the 2015 oil price shock and 2020 COVID-19 ... more
Azerbaijan’s banking sector assets reach AZN27.88bn with a 2.55% NPL ratio in March 2025
The Azerbaijani banking sector has demonstrated remarkable resilience and steady growth in recent years, despite global economic challenges, according to the latest central bank ... more
Azerbaijani banks report mixed financial performance in Q1 2025
Azerbaijan’s leading commercial banks released their financial results for the first quarter of 2025, showing a mixed performance in profitability, digitalisation, credit growth and capital ... more
Most Read
-
Putin to skip Rio BRICS summit over ICC warrant as Xi signals no-show
10 days ago
-
Turkey yet to prove rare earth deposit has suggested “giant” potential despite reported processing talks with China
10 months ago
-
Uproar in Mongolia as development bank reveals scale of risky loans and NPLs
3 years ago