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Money transfers from Russia to Azerbaijan drop by 16.3%

04 February 2026 16:47 (UTC +04:00)

Money transfers from Russia to Azerbaijan decreased by 16.3% in 2025, APA’s Moscow bureau reports.

According to an RBC study, the volume of money transfer transactions from Russia to Azerbaijan declined to $343 million in January–September last year.

In 2021, the amount of transfers reached $623 million, but by the end of 2024, this figure had already fallen to $410 million.

RBC’s report notes that overall, in 2025, the volume of money transfers from individuals in Russia to neighboring countries such as Azerbaijan, Kazakhstan, and Georgia decreased significantly, with the sharpest decline observed in transfers to Armenia — about 60%.

According to some experts, the decline in money transfers from Russia to Azerbaijan is linked to seasonal factors, stricter regulatory requirements for international transfers, and, amid tougher migration control, the continued outflow of Azerbaijani citizens from Russia.

According to official statistics, the number of Azerbaijani citizens officially registered in Russia stood at 331,000 at the beginning of 2025, but fell to 224,000 by the end of the year.