The Strait of Hormuz crisis does not significantly affect Azerbaijan in terms of the supply chain, President Ilham Aliyev stated.
Operative Information Center-OMM reports that President Ilham Aliyev made these remarks during an interview with Euronews television on May 18.
"The policy of energy supply and diversification of routes is not a matter of today for us. This policy has been implemented for many years, and together with our partners, as well as neighboring countries, we have managed to form a diversified supply system for oil, gas, electricity, and transport connectivity," the Azerbaijani leader emphasized.
President Ilham Aliyev noted that while events in the Middle East impact everyone to some extent, the consequences are multifaceted. "Some may think that high oil prices can be beneficial. Yes, they are. But at the same time, many oil-rich countries invest their funds in bonds, and many invest in stock markets. When such instability occurs, stock markets go down. As a result, while we gain some income from high oil prices, we experience losses in our investments in the markets. Thus, it affects everyone," he explained.
The President further highlighted that Azerbaijan remains in a secure position regarding its energy projects due to its long-standing commitment to diplomacy. He noted that without effective multilateral cooperation and positive relations with transit neighbors, the country could not have successfully brought its resources to global markets. President Ilham Aliyev suggested that Azerbaijan's experience in creating a "win-win" situation for producers, transit countries, and consumers could serve as a useful model for others.
The Strait of Hormuz is a critical global chokepoint between the Persian Gulf and the Gulf of Oman, through which approximately one-fifth of the world's total oil consumption passes daily. Azerbaijan, located at the crossroads of Eastern Europe and Western Asia, has strategically positioned itself as a key hub in the Middle Corridor (Trans-Caspian International Transport Route), providing an alternative to traditional maritime and northern land routes. By investing heavily in the Baku-Tbilisi-Ceyhan (BTC) oil pipeline and the Southern Gas Corridor, Azerbaijan has ensured its energy exports bypass volatile regions, reinforcing its role as a reliable energy guarantor for Europe.
