Russian President Vladimir Putin recently concluded a significant two-day visit to Azerbaijan, where he engaged in discussions with Azerbaijani President Ilham Aliyev on bilateral cooperation and security in the South Caucasus. This visit comes at a critical time as Russia faces challenges in its ongoing conflict with Ukraine, highlighting the strategic importance of Azerbaijan in the region.
During the meetings, Putin emphasized Russia's commitment to facilitating a peace agreement between Azerbaijan and Armenia, particularly in light of the deteriorating relations between Moscow and Yerevan. The recent geopolitical shifts have seen Armenia moving closer to the West, a move that has raised concerns in Moscow about its influence in the South Caucasus.
The discussions also focused on enhancing economic ties amid Western sanctions against Russia, with both leaders exploring the introduction of the 'Mir' payment system to bolster trade. The trade exchange between the two nations has already seen significant growth, reaching $4.1 billion in 2023, and plans for the ambitious North-South transport project were also on the agenda.
