Yerevan /Mediamax/. Russian Ambassador to Baku Mikhail Yevdokimov said that Western sanctions have had a significant impact on strengthening economic cooperation between Russia and Azerbaijan.

“According to our forecast, the 2023 trade turnover between Russia and Azerbaijan was to reach $ 4 billion. We were wrong. Trade turnover amounted to $ 4.4 billion, an increase of 17%. Sanctions have led to the fact that our relations have become even closer, we are implementing very serious projects in industrial sector,” Yevdokimov said in an interview with Izvestia newspaper.

He emphasized that “the 17 percent growth is not the re-export of something through Azerbaijan, but, in particular, the implementation of large industrial cooperation projects.”

“Another figure that also shows the result of Western sanctions: as of the beginning of this year, the use of national currencies between Russia and Azerbaijan exceeded 54%, that is, in our relations with Baku we are moving away from the dollar and euro,” the diplomat said.

“Azerbaijan has turned into an economically developed, very strong, stable state. Azerbaijani business responds very effectively and quickly to new opportunities in economic ties with Russia,” Mikhail Yevdokimov noted.