Aliyev says Hormuz crisis has no major impact on Azerbaijan’s supply chains

The crisis around the Strait of Hormuz does not have a serious impact on Azerbaijan in terms of supply chains, President Ilham Aliyev said in an interview with Euronews.

Aliyev said Azerbaijan has pursued a policy of diversifying energy supplies and routes for many years, building, together with partners and neighbouring countries, a diversified system for oil, gas, electricity and transport connectivity.

He said developments in the Middle East affect everyone to some extent. While higher oil prices may bring additional revenue, instability also weighs on stock markets and causes losses on investments.