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Azerbaijan Blocks Western Union, Moneygram Transfers

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  • Azerbaijan Blocks Western Union, Moneygram Transfers

    AZERBAIJAN BLOCKS WESTERN UNION, MONEYGRAM TRANSFERS

    MarketWatch
    Aug 1 2008

    BAKU, Azerbaijan (AFP) -- Azerbaijan has suspended the activities of
    money transfer companies Western Union Co. because they operate in
    the breakaway region of Nagorno Karabakh, the central bank said Friday.

    "Transfers and reception of money under these systems have been
    completely suspended in all banks of Azerbaijan," the statement said.

    "This is in connection with the possibility of receiving transfers
    through Western Union and MoneyGram on the territory of Nagorno
    Karabakh."

    Azerbaijan strongly opposes companies operating in Nagorno Karabakh.

    Backed by Armenia, ethnic Armenian forces took control of Nagorno
    Karabakh during a war in the early 1990s that killed thousands and
    forced nearly a million people on both sides to flee their homes.

    A ceasefire was signed between the two former Soviet republics,
    Armenia and Azerbaijan, in 1994 but the dispute remains unresolved
    after more than a decade of negotiations.
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