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Banner: President of the Republic of Azerbaijan. Talibov abruptly resigned on December Talibov family members had owned percent of Nakhchivan Bank, which is based in the autonomous region. Rza also shifted ownership of a five-star hotel in Georgia. The heightened scrutiny that comes with these official positions might have increased pressure on the brothers to transfer ownership of the properties, Ismayil said. Records obtained by reporters show that it is now owned —— at least on paper —— by a Turkish national named Fatih Aydin. Fatih, nor us, nor the companies that Mr. The leaked Dubai real estate data obtained by the non-profit research organization C4ADS shows that Seymur owned two more properties that have now been transferred to at least one legal entity. In Georgia, Rza transferred ownership of a five-star hotel in Batumi, a resort city on the Black Sea coast. That same day, business registry documents record his sale of Kervan Turizm Ltd, the company that owned Divan Suites. Gadimov denied that the money came from the Talibovs, saying he used a loan from an Azerbaijani bank to buy the hotel. Related Articles. As a senior public official, Ismaili was required by law to declare his assets, including foreign bank accounts. But he failed to notify Kosovo authorities about nearly 4 million Swiss francs in his Credit Suisse account. When Sun Daocun died in , he left behind a string of unresolved debts which had enraged a long line of creditors. Along the way, he held at least eight accounts at Credit Suisse, including one worth over half a billion Swiss francs. See the project. June 15th, Abi declined to comment on the deal. Join the fight. Hold power to account. Your cookie preferences. We use cookies to improve your experience by storing data about your preferences, your device or your browsing session. We also use cookies to collect anonymized data about your behaviour on our websites, and to understand how we can best improve our services. To find our more details, view our Cookie Policy. Audience Measurement Cookies. Essential Cookies. Accept my choices. Accept all. Close and accept.
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The new supply route would sideline Iranian gas sales to Azerbaijan and comes as Ankara is trying to repair its relationship with the United States. Sandwiched between Iran and Armenia and sharing a tiny border with Turkey, Nakhchivan has long relied on Iran for natural gas for both domestic heating and power generation. The move follows an announcement in February by the presidents of Turkey and Azerbaijan that they planned to fast track the construction of the pipeline, which has been on hold since , when an agreement was first signed to build it. Design work is to be completed by early , meaning the line could be constructed and operational as early as Nakhchivan has been importing Iranian gas under a swap agreement between Baku and Tehran inked in , under which Azerbaijan supplies gas to Iran's isolated northwestern border city of Astara, which has no gas supply from inside Iran. The prospect of a rival gas supply line from Turkey to Nakhchivan could persuade Tehran to be more amenable, but the planned line promises to have a substantially wider impact. Turkey also imports Iranian gas, but that flow has been halted since March 31 when a sabotage attack, which the Turkish authorities blamed on the Kurdistan Workers Party PKK , forced the closure of the pipeline. The month before, Turkey's deputy energy minister Alpaslan Bayraktar told a conference in Istanbul that Ankara planned to use the availability of cheap liquefied natural gas LNG delivered by ship to force its pipeline gas suppliers to cut their prices. Turkey has for the past few months been attempting to improve its fractious relations with Washington, which has in turn long been pressing both Turkey and Azerbaijan to limit their economic ties with Iran. The prospect of Turkey and Azerbaijan ending or limiting their gas imports from Iran will certainly appeal to the Iran hawks in the Trump administration, all the more so given that the past year has seen the US become one of Turkey's main gas suppliers. This story originally appeared on eurasianet here. Register here to continue reading this article and 8 more for free or purchase 12 months full website access. Register to read the bne monthly magazine for free:. Already registered. Take a trial of IntelliNews PRO, a premium daily news service aimed at professional investors that covers business, economics, finance and politics of Emerging Europe. Privacy Policy and Terms of Service apply. Have a question? Email sales intellinews. A confirmation email has been sent to the email address you provided. Forgotten password? Email field can't be empty. No user with this email address. Access recovery request has expired, or you are using the wrong recovery token. Please, try again. 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For any other enquiries about our products or corporate discounts please contact us at sales intellinews. If you no longer wish to receive our emails, unsubscribe here. Magazine annual electronic subscription. Azerbaijan has no diplomatic relations with Armenia, thus it cannot supply its plentiful gas to the Nakhchivan exclave via Armenian territory. The March attack was certainly fortuitous for Turkey. Read in IntelliNews Pro. Get IntelliNews Pro. Related Content. Five Turkic states give nod to common Latin alphabet. Albania's former president Ilir Meta arrested in corruption case. Mexico set for energy shake-up as Sheinbaum rewrites the rules. IranAir redirects flights to Istanbul to avoid EU sanctions. Follow Us On. Cookies on the bne IntelliNews website. This site uses cookies - small text files that are placed on your machine to help the site provide a better user experience. 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Amid Political Purge, Sons of Longtime Azerbaijan Autocrat Talibov Offloaded Assets
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Azerbaijan makes territorial gains in Nakhchivan as fighting with Armenia flares
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