Excerpts from an article at AZnews
Interesting information- quite contrary to western media presentation
Russian President Vladimir Putin’s remarks on relations with Azerbaijan, delivered on the sidelines of the St. Petersburg International Economic Forum, became one of Moscow’s most notable regional signals. The Russian leader not only offered an emphatically positive assessment of bilateral ties but also revealed that the two countries are holding talks on specific areas of cooperation, primarily in the energy sector, and announced a forthcoming meeting with Azerbaijani President Ilham Aliyev.
Putin spoke about Azerbaijan on June 4, 2026, during his traditional meeting with the heads of leading international news agencies at the Konstantinovsky Palace. Responding to a question from Vugar Aliyev, Chairman of the Board of AZERTAC, the Russian president described bilateral relations in distinctly positive terms.
“We have good relations with Azerbaijan. They have always been good and remain so, both in the economy and in the political sphere,” Putin said.
He placed particular emphasis on the role of President Ilham Aliyev, noting his efforts to give practical substance to the agreements on strategic cooperation between the two countries. Putin was referring to the Declaration on Allied Interaction signed by the two leaders in Moscow on February 22, 2022.
The document covers a broad range of areas, including political dialogue, security, trade, energy, transport and humanitarian cooperation. Putin’s reference to this framework is significant. Moscow is thereby signalling that it continues to view relations with Baku not as a collection of separate economic contacts, but as a structured interstate partnership. This is particularly important against the backdrop of complex regional developments, growing competition over transport routes and the continued transformation of the economic architecture of Eurasia.
The most intriguing part of the Russian leader’s remarks concerned energy. Putin said that Russia and Azerbaijan were conducting negotiations “across a whole range of specific areas,” although he considered it premature to disclose the details.
“This primarily concerns energy. We will meet with President Aliyev and will certainly discuss all of this,” he said.
Such wording suggests that the two sides are discussing not merely general prospects for cooperation, but practical projects that may require political approval at the highest level. At the same time, no exact date has yet been announced for the upcoming meeting between Aliyev and Putin.
Energy dialogue between Azerbaijan and Russia is multilayered. Both countries are major producers and exporters of hydrocarbons, yet their interests are not limited to competition. Baku and Moscow cooperate in the oil and gas sector, electricity, energy exchanges and regional infrastructure. Russian companies operate in the Azerbaijani market, while SOCAR has longstanding experience of working with Russian partners.
Potential new agreements could relate to energy supplies and swap operations, the processing of raw materials, the use of energy infrastructure or the balancing of regional markets. However, until official information is released, any more specific assumptions should be regarded solely as possible scenarios.
A substantial part of the Russian president’s response focused on economic relations. Putin said that bilateral trade was growing and that additional opportunities were emerging for mutual supplies. The latest full-year figures indeed confirm the long-term expansion of trade.
According to Azerbaijan’s State Customs Committee, trade turnover between Azerbaijan and Russia reached $4.92 billion in 2025, an increase of 2.5% compared with $4.799 billion in 2024. Russia remained among Azerbaijan’s three largest trading partners, behind only Italy and Türkiye
So, Israel… not a big trading partner with Azerbaijan?
Azerbaijani exports to Russia reached $1.184 billion in 2025, rising by 0.5%. Imports of Russian goods increased by 3.2% to $3.736 billion. Bilateral trade therefore continues to show a significant imbalance in favour of Russian supplies. For every dollar of Azerbaijani exports to Russia, more than three dollars’ worth of goods were imported from Russia
The use of national currencies is also expanding. According to figures presented in April at a meeting of the intergovernmental commission, the Russian ruble accounted for 42% of settlements for Azerbaijani exports and 83% of payments for imports from Russia. This reduces dependence on third-country currencies and simplifies transactions amid a changing international financial environment.
The International North-South Transport Corridor remains the key project in this regard. Its western branch runs through Russia and Azerbaijan toward Iran. The corridor’s full-scale operation requires the completion of missing infrastructure sections, the modernisation of railways and border crossings, and the improvement of customs procedures. For Russia, the route represents an alternative gateway to southern markets, while for Azerbaijan it offers an opportunity to strengthen its position as one of Eurasia’s principal transport hubs.
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