By Stefan J. Bos, Chief International Correspondent Worthy News
BAKU/BUDAPEST (Worthy News) – Azerbaijan has applied to join the BRICS bloc of developing economies despite the European Union vying for attention from the oil—and natural gas-rich South Caucasus nation.
The move, observed by Worthy News on Wednesday, came shortly after this week’s visit to Azerbaijan by Russian President Vladimir Putin.
Azerbaijani Foreign Ministry spokesman Aykhan Hajizadeh confirmed that the nation joined a bloc that, over a decade, included just five nations — Brazil, Russia, India, China, and South Africa.
However, it has recently seen a significant expansion, with Iran, Egypt, Ethiopia, and the United Arab Emirates joining in January.
Saudi Arabia has said it’s considering becoming a member as well.
Azerbaijan initially desired to enter BRICS in July, and China welcomed it.
Yet Brussels was due to have mixed feelings about the move amid concerns that Russia would wield its influence to halt the West’s attempts to access fossil fuels outside Russia.
ENERGY SANCTIONS
Moscow faces Western energy sanctions due to its invasion of Ukraine.
Instead, EU’s executive European Commission President Ursula von der Leyen signed a memorandum of understanding with Azerbaijan President Ilham Aliyev to double Europe’s natural gas supply from Azerbaijan effectively.
“We largely are investing in increasing our gas production because Europe needs more gas from new sources,” Aliyev said earlier this year. “Our oil and gas will be needed for many more years, including [in] European markets.”
Von der Leyen hailed it in 2022 as a “crucial energy partner” in divesting from Moscow.
Yet even then, European Parliament lawmakers called for the deal to be revisited amid growing political tensions with Azerbaijan over its offensive in the breakaway region of Nagorno-Karabakh.
That forced more than 100,000 mainly Christian Armenians to leave the region.
However, with the EU increasingly desperate to fuel its economy, its diplomats seem reluctant to free ties with a crucial energy partner.
Copyright 1999-2024 Worthy News. This article was originally published on Worthy News and was reproduced with permission.
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Azerbaijan Joining BRICS Bloc, Raising EU Concerns
By Stefan J. Bos, Chief International Correspondent Worthy News
BAKU/BUDAPEST (Worthy News) – Azerbaijan has applied to join the BRICS bloc of developing economies despite the European Union vying for attention from the oil—and natural gas-rich South Caucasus nation.
The move, observed by Worthy News on Wednesday, came shortly after this week’s visit to Azerbaijan by Russian President Vladimir Putin.
Azerbaijani Foreign Ministry spokesman Aykhan Hajizadeh confirmed that the nation joined a bloc that, over a decade, included just five nations — Brazil, Russia, India, China, and South Africa.
However, it has recently seen a significant expansion, with Iran, Egypt, Ethiopia, and the United Arab Emirates joining in January.
Saudi Arabia has said it’s considering becoming a member as well.
Azerbaijan initially desired to enter BRICS in July, and China welcomed it.
Yet Brussels was due to have mixed feelings about the move amid concerns that Russia would wield its influence to halt the West’s attempts to access fossil fuels outside Russia.
ENERGY SANCTIONS
Moscow faces Western energy sanctions due to its invasion of Ukraine.
Instead, EU’s executive European Commission President Ursula von der Leyen signed a memorandum of understanding with Azerbaijan President Ilham Aliyev to double Europe’s natural gas supply from Azerbaijan effectively.
“We largely are investing in increasing our gas production because Europe needs more gas from new sources,” Aliyev said earlier this year. “Our oil and gas will be needed for many more years, including [in] European markets.”
Von der Leyen hailed it in 2022 as a “crucial energy partner” in divesting from Moscow.
Yet even then, European Parliament lawmakers called for the deal to be revisited amid growing political tensions with Azerbaijan over its offensive in the breakaway region of Nagorno-Karabakh.
That forced more than 100,000 mainly Christian Armenians to leave the region.
However, with the EU increasingly desperate to fuel its economy, its diplomats seem reluctant to free ties with a crucial energy partner.
Copyright 1999-2024 Worthy News. This article was originally published on Worthy News and was reproduced with permission.
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