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Uzbek leader outlines key development directions within Russia-led EAEU

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President of Uzbekistan Shavkat Mirziyoyev in his speech at the EAEU summit outlined the key directions for the development of cooperation within the organization.

According to the president, despite the pandemic, Uzbekistan's trade with the countries of the organization had increased by 30%. The republic is not limited to the formal role of an observer but is actively implementing joint projects.

"Work is underway to establish cooperation with the Eurasian Development Bank, within the framework of which joint projects are being prepared in the field of renewable energy, pharmaceuticals, mechanical engineering, electrical and chemical industries," Mirziyoyev stressed.

He noted that one of the priority tasks was to build up trade and economic ties between the member countries of the organization. The Uzbek leader proposed to develop a roadmap to increase mutual trade and remove existing barriers.

Another area identified by the president of Uzbekistan is the creation of interregional value chains by deepening industrial cooperation.

"We have already begun to consider these issues with representatives of the EAEU during the industrial forum and exhibition Innoprom, held in April 2021 in Tashkent. Now, these events will be held on an annual basis in the capital of Uzbekistan and are being transformed into a platform of regional significance Innoprom-Central Asia," he added.

In addition, the president of Uzbekistan stressed the need to develop cooperation in the areas of transport, logistics, food security, e-commerce, as well as combating environmental challenges.

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Former head of Iranian Central Bank sentenced to 10 years on corruption charges

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A former governor of Iran’s Central Bank, Valiollah Seif, was sentenced on Saturday to 10 years in prison on corruption charges involving the mismanagement of millions of dollars, the judiciary said.

Report informs, citing Reuters, that Seif and two of his deputies, who also received jail terms, were found guilty of "disturbing the foreign exchange market, the country's economic climate and mismanagement,” a judiciary spokesman was quoted as saying by state media.

State TV said Seif and one of his deputies, Ahmad Araghchi, who was sentenced to eight years in jail, had "provided illegal conditions for the mismanagement of about $160 million and 20 million euros."

Another deputy, Salar Aghakhani, was sentenced to 13 years.

Seif led the central bank from 2013 to 2018 under former President Hassan Rouahni's administration. He was replaced by Abdolnasser Hemmati.

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How did natural gas tariffs change in Azerbaijan?

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At today's meeting, the Tariff Council adopted relevant decisions on the regulation of wholesale and retail tariffs for natural gas.

Report informs that, according to the decision, in the population category, tariffs increased by AZN 0.02 for annual consumption of up to 1,200 cubic meters (1,200 cubic meters included) and AZN 0.12 for one cubic meter.

Tariffs for the population within the consumption limits of 1,200 to 2,500 cubic meters and over 2,500 cubic meters remained unchanged at AZN 0.20 and AZN 0.25, respectively. Gas tariffs for industry and agriculture in the non-population category are increased from AZN 0.20 to AZN 0.22.

The tariff for gas sold by Azeristiliktejizat OJSC to yard boiler houses and CNG filling stations increases from AZN 0.13 to 0.171. Tariffs for gas supplied to other consumers remain at the same level of AZN 0.25 per 1,000 cubic meters and for gas used as crude in the production of methanol and urea products at AZN 0.20.

The tariff for gas sold by Azerkontrakt OJSC to Azerenerji OJSC for energy generation is increased from AZN 0.13 to AZN 0.171. The tariff for gas purchased from the Azneft PA increases from AZN 0.75 to AZN 0.9.

Moreover, the tariff for gas sold by Azerkontrakt OJSC to Azneft PU and Nakhchivangaz PU increases from AZN 0.11 to AZN 0.118.

The manufacturer buys natural gas at a negotiated price for the production of electricity supplied to data centers that carry out activities for processing, recording, and transmitting data, which receive power directly through the 35 and 110 kV lines, where the daily demand for loads is stable, and the average monthly energy consumption for production targets is at least 5 million kWh.

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NATO Special Rep for Caucasus and Central Asia to visit Baku

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NATO Special Representative for the Caucasus and Central Asia Javier Colomina will arrive in Azerbaijan next week, Report informs, citing Colomina's Twitter page.

"Looking forward to my first trip to the Caucasus next week. I will be visiting Azerbaijan, Georgia, and Armenia in my new capacity as NATO Special Rep for the Caucasus and Central Asia in order to identify ways to further enhance NATO’s engagement in the Caucasus," he tweeted.

Looking forward to my first trip to the #Caucasus next week. I will be visiting #Azerbaijan , #Georgia , and #Armenia in my new capacity as #NATO Special Rep for the Caucasus and Central Asia in order to identify ways to further enhance NATO’s engagement in the Caucasus.

— Javier Colomina (@JavierColominaP) October 16, 2021

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