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Azerbaijan Demands Turkey Write Off $150 Million in Electricity Debts; Says Amount Too Big
Associated Press
Thursday April 21, 2005
BAKU, Azerbaijan (AP) -- Azerbaijan said Thursday it would not pay
off US$150 million in electricity debts owed to Turkey, saying the
amount was too big for the Caspian Sea nation.
Vice Premier Abid Sharifov also told reporters that the debts for
electricity supplied to the Azerbaijani enclave of Nakhichevan since
1992, is small change for Turkey. He said Azerbaijan's service on
the debt is growing by US$11 million to $12 million annually.
"We aren't interested in returning this debt," he said. "That is why
we suggest writing it off as technical losses."
Sharifov said the demand was unlikely to damage relations between
the two countries. There was no immediate reaction from Turkey to
the demand.
The enclave of Nakhichevan is legally part of Azerbaijan but is cut
off from Azerbaijan proper by its enemy, Armenia.
Turkey, which border Nakhichevan to the east, is Azerbaijan's
closest ally in the region. It maintains a border blockade against
Armenia, the result of the six-year war fought between Azerbaijan
and Armenian-supported forces over Nagorno-Karabakh.
Azerbaijan's economy is growing due to major investment by
international oil companies looking to exploit some of the largest
fields in the former Soviet Union, but much of the country has yet
to reap the benefits of the growth.
http://biz.yahoo.com/ap/050421/azerbaijan_turkey_debts.html?
From: Emil Lazarian | Ararat NewsPress
Associated Press
Thursday April 21, 2005
BAKU, Azerbaijan (AP) -- Azerbaijan said Thursday it would not pay
off US$150 million in electricity debts owed to Turkey, saying the
amount was too big for the Caspian Sea nation.
Vice Premier Abid Sharifov also told reporters that the debts for
electricity supplied to the Azerbaijani enclave of Nakhichevan since
1992, is small change for Turkey. He said Azerbaijan's service on
the debt is growing by US$11 million to $12 million annually.
"We aren't interested in returning this debt," he said. "That is why
we suggest writing it off as technical losses."
Sharifov said the demand was unlikely to damage relations between
the two countries. There was no immediate reaction from Turkey to
the demand.
The enclave of Nakhichevan is legally part of Azerbaijan but is cut
off from Azerbaijan proper by its enemy, Armenia.
Turkey, which border Nakhichevan to the east, is Azerbaijan's
closest ally in the region. It maintains a border blockade against
Armenia, the result of the six-year war fought between Azerbaijan
and Armenian-supported forces over Nagorno-Karabakh.
Azerbaijan's economy is growing due to major investment by
international oil companies looking to exploit some of the largest
fields in the former Soviet Union, but much of the country has yet
to reap the benefits of the growth.
http://biz.yahoo.com/ap/050421/azerbaijan_turkey_debts.html?
From: Emil Lazarian | Ararat NewsPress