Azerbaijan watchdog suspension puts gas pipeline loans at risk

Azerbaijan watchdog suspension puts gas pipeline loans at risk:

"Azerbaijan has been suspended from an international transparency watchdog in a move that could jeopardise billions of dollars of loans for a gas pipeline to Europe.  The Extractive Industries Transparency Initiative, which brings together governments, companies and non-governmental organisations to focus on commodities payments, suspended Azerbaijan late on Thursday after it failed to address its concerns about civil society freedoms.  The voluntary body warned Azerbaijan it risked expulsion if it failed to make the changes by July. Membership is not a legal requirement for project financing but it is standard practice to use the initiative’s findings as a criteria for capital support."



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