SOFAZ invests in Russian ruble

SOFAZ invests in Russian ruble According to the “Investment Policy of the State Oil Fund of the Republic of Azerbaijan” up to 5% of the Fund’s assets can be invested in assets denominated in Turkish Lira and Russian Ruble. In the framework of the Investment policy first investments were made to the assets denominated in Turkish Lira during the current year and appropriate preparations to start investments in Russian Ruble have been completed. On October 19,... Read More

SOFAZ to bring the purchased gold to country duty-free

SOFAZ to bring the purchased gold to country duty-free Azerbaijan State Oil Fund will bring the gold, purchased within the framework of new investment tools, duty free and without VAT. The Cabinet of Ministers made amendments to Decision on rates of custom duties on export-import operations in the Republic of Azerbaijan, adopted on April 22, 1998, APA reports. According to decision, customs duty will not be taken from the gold imported for the placement in assets of SOFAZ.... Read More