15:12 - 13.03.2025

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March 13, Fineko/abc.az.One of the impacts of a possible Russia-Ukraine agreement on Azerbaijan and the countries of the region (Central Asia and the South Caucasus) will be a decrease in remittances from Russia, ABC.AZ reports, referring to S&P Global Ratings.

It was noted that sharp rise in remittance inflows and money transfers in 2022 helped to improve the current account balance by an average of 6.5 percentage points for Uzbekistan, Georgia, Armenia, Azerbaijan, Kazakhstan, and Tajikistan. For Azerbaijan and Kazakhstan, the improvement also reflected higher oil prices. This impact was mostly reversed in 2023 due to banks' stricter compliance processes and the movement of Russian money to other jurisdictions.