Business & Financial News

Russia has completely stopped deliveries of the electric power to Azerbaijan. Negotiations of vice-president of Azerenergy with the Russian party about reductions of price of the electric power delivered to Azerbaijan have not given any positive results.
Earlier the minister of the industry and power Natig Aliev has informed that if Russia will insist on increase of the prices, the Azerbaijan government will make a decision on refusal of these deliveries. In Azerbaijan minister’s opinion, taking into consideration the fact of the termination of deliveries of the Russian electricity to Azerbaijan any special problems is not expected.
It is worth of stressing that recently, Inter (one of the “United Power Systems” companies) has informed about the termination of deliveries of the electricity to Azerbaijan. Till now deliveries to Azerbaijan were carried out under the contract signed in 2006. The contract is valid till the end of 2007, but regarding electricity deliveries - only till March, 31st.
As representatives of Russian power sector has informed they (Russia) will stop electricity deliveries since April, 1st if we shall not receive comprehensible offers from Azerbaijan. Russian representatives suggested keeping operating conditions and terms in the second quarter and - to develop the flexible mechanism of pricing till the beginning of the third period, however, the Azerbaijan party has ignored this offer.

Argentina repudiates the contract with the Great Britain on common extraction of oil, which has been found out on Falkland Islands. This step has marked a new step of the conflict which started in 1833 and has reached its culmination in 1982, when 74-day’s bloody war took place between two countries. Next Monday will be the 25th anniversary from the date of its beginning.
In 1995 Buenos Aires and London have entered into the agreement in which they have agreed to promote extraction of oil in disputable territories. The United Kingdom and Argentina also had to share the oil found on Falkland Islands. Now Minister for Foreign Affairs of Argentina approves, that London has taken the advantage of this agreement to justify “illegal” requirements of islands. The Foreign minister said that the decision made by Argentina does not allow the United Kingdom to use it as the tool for the justification of illegal and unilateral actions on investigation of resources which belong to Argentina.
Actually, Falklands is the group, consisting of two greater islands - Western Falkland and East Falkland - and about 200 small islands. The general territory is 12 173 km². According to CIA in July, 2006, the population of islands made 2967 people (basically the British). The islands are in a southern part of Atlantic Ocean, to the east from the western coast of Argentina. Seismological researches have found out almost 60 billion barrels of oil in the Falkland shelf. However, in 1998 as a result of joint researches Shell and Amerada Hess (now - Hess Corporation) have come to conclusion, that this oil is badly suitable for sale.

The UNO General Secretary Ban Ki-moon has called all the parties to renew negotiations on the Iranian nuclear problem. In the United Nations Secretary’s application it is marked, that he welcomes unanimous acceptance of the United Nations Resolution 1747 and calls Iran to execute all positions of the Resolution. Ban Ki-moon has also expressed confidence that settlement of the Iranian nuclear problem by negotiations would promote strengthening of the international mode of non-distribution of the nuclear weapon, and has stated to hope for renewal of dialogue on this extremely important problem.

Italian prime-minister Romano Prodi has submitted the application on resignation. Today the application was accepted by the president of Italy.
Prodi’s decision can be explained by voting in the upper chamber of the Italian parliament which has not approved the resolution of the government on foreign policy.
The split inside of the ruling majority has occurred because of three parties, which entered into the ruling coalition, - the Party of the Italian communists, the Party of communistic transformation of Italy and the Party green - have refused to support the government in a question of participation of Italians in peace-making mission in Afghanistan and expansions of American military base.
In spite of the fact that the Minister of Foreign Affairs and prime-minister have repeatedly holding meetings with considerably adjusted pacifists, proving to them, that Italy cannot break the obligations to the USA, and also refuses participation in UNO’s mission, that would lead to the international isolation of the country, some “dissidents” have refused to vote in support of the governmental resolution.

On Tuesday the secretary of Supreme National Security Council (SNSC) of Iran Ali Larijani will carry on negotiations in the Austrian capital with the general director of the International Agency on Atomic Energy (IAEA).
As the constant representative of Iran in IAEA has informed o the delegation led by Ali Larijani is going to visit Austria. The basic themes of negotiations will concern the cooperation of Teheran with this international organization, and also a situation around of the Iranian nuclear problem.
This business meeting is to be held on February, 9th in Vienna. However the Iranian party has cancelled it because of the “technical reasons”.
Teheran still insists on the right to enrich uranium in the peace purposes. The development of the nuclear program of Islamic Republic causes serious concern of the World Community, being afraid that Teheran is hiding that it is using the nuclear program in the military purposes.
This week the term, given by Security Council of the United Nations to Teheran for a time suspension of works on enrichment of uranium is finishing.
On February, 23rd the IAEA will present to the United Nations agenda the report on how Teheran carries out the requirements of the resolution 1737 of Security Council across Iran, accepted in December, 2006. If the facts that Iran has not executed the requirement of the international community will be specified in the report, it is possible that UN Security Council will take additional measures on the basis of clause 41 of chapter of VII Charter of the United Nations.
Clause 41 authorizes Security Council to decide, what measures, not connected with use of military force, and should be applied to realization of its decisions. Nevertheless Security Council’s sanctions can include full or partial break of economic attitudes, the termination railway, sea, air, post, cable, radio- or other kinds of communications, and also a severance of diplomatic relations.
Before a meeting with IAEA general director Larijani (at conference in London) has declared that it is impossible to solve Iranian nuclear problem only by sanctions. And it is necessary to achieve understanding and to reach the agreement between the conflicting parties.