According to him, tension between Russia and the West, Russia-Syria-Turkey problem, ISIL, Saudi Arabia-Iran conflict, as well as wars in the Middle East create threat for future development of countries which are in sphere of influence of these conflicts.
He noted that energy factor plays an important role in all of these processes: “However, changing of game rules in the global arena has renewed affects of energy issues to these processes. Though the oil price decline was substantiated by economic reasons such as US meeting its oil demand through itself, reduction of funds issued by Federal Reserve System for world stock exchanges, fall in Chinese economic growth, increase of oil production by OPEC, Iran’s entering oil and gas market and etc., the decline was mainly caused by contradictions among the great powers”.
The minister noted that the most regretful point of these processes is negative impacts on socio-economic life of countries like Azerbaijan: “Oil price decline, reduction in oil revenues affects our country’s development. Though this impact caused devaluation, the sustainable development model provided growth in the different spheres, preservation of Azerbaijan’s position as a energy state”.
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