Category: Azer News

There is no easy way to shape our words on what happened over the past two days. As the markets approached the end of the working week, it took just a couple of hours to experience a shocking ‘cold plunge’ effect. US and Israeli forces launched an attack on Iran, a development that many had anticipated, but it took an unexpected turn following a week of fluctuating negotiations.

The climax happened at the end of the day – Iran’s Supreme Leader Ayatollah Ali Khamenei, who shaped the Islamic Republic for more than three decades, has been confirmed dead after a joint military strike by the United States and Israel. Iranian state media, along with multiple international sources, reported the announcement this Sunday, triggering mourning at home and heightened anxiety across markets and capitals alike.

What began as an escalation over Iran’s nuclear programme and regional proxy activities has exploded into a confrontation with far-reaching implications. As Tehran declared a period of 40 days of public mourning, its Revolutionary Guard vowed ‘severe punishment’ against the alleged attackers, suggesting a prolonged cycle of retaliation could unfold.

Khamenei, 86, led Iran since 1989, consolidating power through the Supreme Leader’s office and overseeing the expansion of the Islamic Revolutionary Guard Corps (IRGC) as both a military and political force. His death, confirmed after strikes that reportedly hit his central Tehran compound and killed several senior figures, leaves a power vacuum at the heart of the Republic without an obvious successor.

Alireza ?Arafi, a religious leader on the Guardian Council, has been appointed to ?Iran’s leadership council, the body tasked with fulfilling the leader’s role until the Assembly of Experts elects a new leader.

?Arafi will be ?part of the ?temporary leadership council alongside President Pezeshkian and Supreme Court Chief Justice Mohseni-Ejei.

Domestically, reactions are fractured. Some Iranians mourn, while others celebrated in diaspora communities, underscoring deep divisions over the clerical establishment and its policies.

The timing of Khamenei’s death in combination with ongoing military operations has renewed intense focus on the Strait of Hormuz, a narrow waterway through which roughly 20% of global oil exports normally transit. Analysts warn that any effective disruption to traffic, whether through formal closure or de facto avoidance, would reverberate violently through energy markets, tightening supply and pushing prices sharply higher.

Energy consultancy Rystad Energy has estimated that if operations disrupt shipping through Hormuz, 8-10 million barrels per day of oil could be removed from markets even if alternative regional pipelines run at full tilt, potentially lifting Brent crude prices by $20 per barrel upon the resumption of trading.

With Brent crude already trading around the low $70s before the weekend shock, traders are bracing for significant volatility as exchanges reopen. Countries dependent on imported energy, from Europe to East Asia, face higher costs for heating and industry if supply fears deepen.

Global reaction and rising risk premium

World leaders have responded unevenly. Russia and China condemned the strike as a violation of international law, while Western capitals have stressed restraint but reaffirmed support for counter-proliferation objectives, a delicate diplomatic position aimed at containing escalation.

The United States has not signalled an imminent release from its Strategic Petroleum Reserve, a move that some analysts interpret as an expectation that price impacts may be manageable or short-lived, while others see it as a bid to temper panic. Publicly, the U.S. Department of Energy has stated that such releases are not under consideration ‘at this stage.’

Across the Middle East, markets and governments are preparing for a possible wider conflagration. Protests have already erupted in Pakistan and Iraq following the news of Khamenei’s death, underscoring the broader regional volatility that could accompany any prolonged cycle of reprisals.

As stock exchanges prepare to reopen, several factors are in focus:

Oil price direction: With the possibility of a supply shock if Hormuz is effectively impassable, market participants will be watching Brent and WTI benchmarks closely.

OPEC+ response: Member countries are expected to convene soon to discuss production targets. Any coordinated increase in output could only partially offset potential disruptions in the Gulf.

Risk premium: Traders will increasingly price in geopolitical risk, which historically has been a significant driver of crude prices during Middle East crises.

The global balance between supply and demand was already under pressure from slower growth, pipeline capacity constraints, and LNG market shifts. Adding acute geopolitical tension at one of the world’s most vital chokepoints is likely to strengthen the risk premium in energy prices, at least in the near term.

A world on alert

For investors, businesses and policymakers, Monday’s market open will be a barometer not just of price movements but of confidence. Iran’s sudden leadership transition, triggered amidst active hostilities, has thrust the Persian Gulf back to the centre of global energy geopolitics. How economic actors respond to this moment will reverberate through commodity markets, currency valuations and international relations in the weeks ahead. Perhaps the initial or current situation in the market could provide insight into whether the conflict will conclude.

The major overhaul of the ‘President Heydar Aliyev’ tanker operated by the Azerbaijan Caspian Shipping Company (ASCO) has been successfully completed, AzerNEWS reports.

According to ASCO, the repair works were carried out at the Zig Ship Repair and Construction Yard.

As part of the comprehensive refurbishment, the vessel’s main and auxiliary engines, piping systems, and mechanical components were repaired. Electrical installation and automation systems were upgraded, while extensive hull and welding works were also conducted.

In the field of communications and electro-radio navigation, a new modern radar and television monitoring system was installed. Additionally, a new gyrosphere was fitted to the vessel’s gyrocompass system, alongside restoration and maintenance work.

Crew accommodation areas, sanitary facilities, and dining quarters were fully renovated to improve living conditions on board. During the overhaul, the tanker’s underwater and above-water sections, as well as the deck, were cleaned and repainted.

Following the completion of repairs, the tanker successfully underwent sea trials. Its first voyage after refurbishment was on the Aktau-Sangachal route.

It should be noted that the ‘President Heydar Aliyev’ tanker has a length of 149.9 meters and a width of 17.3 meters. The vessel’s total deadweight capacity stands at 13,800 tons.

Gold has never been merely a commodity quoted on a trading screen. Across centuries, it has served as a barometer of anxiety – a quiet but powerful indicator of war, instability, and systemic doubt. In recent days, reports of Iran being bombed in the Middle East sent gold soaring to a record $5,400 per ounce. This was not simply a technical market fluctuation. It was a psychological reflex deeply embedded in the architecture of global finance.

Whenever geopolitical tremors intensify, investors instinctively retreat from risk. Equities lose momentum, emerging-market currencies come under pressure, and capital seeks shelter. Historically, that shelter has often meant gold. The pattern has repeated itself with remarkable consistency, transcending eras, continents, and monetary regimes.

During the 2003 U.S. invasion of Iraq, gold prices jumped roughly 5-6 percent within days. Yet once the war formally began and markets absorbed the initial shock, prices retreated. A similar sequence unfolded in 2022, when Russia launched its invasion of Ukraine. Gold briefly surged above $2,000 per ounce, only to ease back toward $1,800 in the months that followed as the Federal Reserve embarked on an aggressive cycle of interest-rate hikes. The lesson from both episodes was clear: war headlines ignite sharp, emotional spikes; monetary tightening and market recalibration often impose discipline afterward.

Yet the current Iran episode appears different in scope and potential consequence. Iran is not merely another flashpoint in a volatile region. It is a significant player in global energy markets, and any disruption involving Iran reverberates immediately through oil supply expectations. Rising oil prices feed directly into inflation fears. Inflation fears, in turn, elevate gold’s appeal as a hedge against currency erosion and purchasing-power decline. This feedback loop explains why the recent 8 percent surge does not look accidental or purely speculative. Markets are pricing in the possibility that the conflict’s consequences could extend far beyond the battlefield.

Gold’s ‘safe haven’ status is neither myth nor marketing slogan. In times of uncertainty – whether war, recession, banking instability, or currency depreciation – its store-of-value function tends to strengthen. When the dollar weakens, when investors anticipate rate cuts, or when energy shocks threaten global price stability, gold frequently becomes the first refuge. The mechanism is both psychological and structural. Fear amplifies demand, while macroeconomic fundamentals often justify it.

Unlike fiat currencies, gold does not rely on the credibility of a central bank or the fiscal discipline of a government. It is not tied to the balance sheet of any sovereign authority. For that reason, it carries an aura of neutrality. In moments when political decisions appear unpredictable and alliances fragile, that neutrality becomes extraordinarily valuable. Investors may debate equity valuations or bond yields, but gold’s appeal in crisis rests on something more elemental: trust that exists outside the political sphere.

If the Iran conflict proves short-lived and contained, historical precedent suggests that prices could moderate. The Iraq and Ukraine cases both demonstrated that once the initial shock subsides and supply chains adjust, speculative premiums tend to fade. Markets dislike uncertainty more than bad news; once outcomes become clearer, volatility often declines. In such a scenario, gold could experience a corrective phase, particularly if central banks signal tighter policy to counter inflationary pressures.

However, if hostilities persist or expand, the calculus changes significantly. A prolonged disruption in the Middle East would likely sustain elevated energy prices, reinforcing inflation expectations across advanced and emerging economies alike. That would complicate the policy choices of central banks, including the Federal Reserve, which must balance growth risks against price stability mandates. Should policymakers hesitate to tighten aggressively for fear of undermining economic recovery, real interest rates could remain subdued – a condition historically supportive of higher gold prices.

Historical data suggest that while gold often exhibits volatility after the initial shock, average gains over a 12-month horizon during wartime periods have hovered around 8-9 percent. In environments where both geopolitical and inflationary pressures coincide, those gains can be more pronounced. This dual driver – war anxiety combined with structural inflation expectations – provides a stronger foundation for sustained price appreciation than conflict headlines alone.

What distinguishes this moment is the direct energy channel linking military escalation to consumer prices, monetary policy, and currency valuations simultaneously. Gold is responding not only to fear, but to a tangible macroeconomic risk matrix. Against this backdrop, forecasts suggesting a potential move toward $6,000 per ounce no longer seem implausible. They reflect not exuberance, but a recalibration of perceived systemic risk.

Whether this surge proves temporary or structural will depend on the trajectory of the conflict and the response of policymakers. Yet one principle endures. In moments when the world feels less predictable, capital searches for permanence. And for centuries, that permanence has been found in gold.

Saudi Arabia’s air defenses intercepted two drones targeting the Ras Tanura oil refinery in the Kingdom’s Eastern Province on Monday, according to Defense Ministry spokesperson Turki al-Maliki in remarks to Al Arabiya, AzerNEWS reports.

Al-Maliki said debris from the destroyed drones caused a ‘limited’ fire within the facility’s vicinity, but confirmed that no civilian injuries were reported.

Ras Tanura is one of the largest oil refining and export facilities in the world, making it a critical component of global energy infrastructure.

The attempted strike comes amid escalating regional tensions. Since Saturday, Iran has launched a series of drone and missile attacks across the Middle East and Gulf region, including against targets in Saudi Arabia, following Israeli and U.S. strikes on Iranian territory.

Saudi authorities condemned the attacks on the Kingdom and neighboring Gulf states, reaffirming their right to self-defense and warning that further measures, including potential retaliation, remain under consideration.

At the first-ever Coaches Forum held in Azerbaijan, FC Qarabag head coach Qurban Qurbanov delivered a candid and wide-ranging address during the panel session titled “The Role of the Head Coach: Leader, Educator, or Manager”, AzerNEWS reports.

Reflecting on his journey with FC Qarabag, Qurban Qurbanov admitted that leading the club has profoundly shaped him both professionally and personally.

“Being part of this team has developed me tremendously,” he said. “This name has, in a way, made me grow even more and increased my sense of responsibility. Perhaps if I had coached another team, this would not have happened.”

He noted that one of his primary missions has always been to ensure players fully understand the weight of the club’s name and identity. According to the experienced coach, success is impossible without understanding the cultural and social environment in which one works.

“If my mentality is not aligned with this country, I cannot achieve success. At the same time, I cannot succeed in a country whose mentality I do not understand,” he stressed.

“I have always explained to our foreign players that they must understand the name under which they are playing. We also have these discussions with local footballers. They must never forget that we represent Qarabag.”

Qurbanov emphasized that character is indispensable in sport:

“Without character, an athlete cannot achieve success. We cannot leave the pitch without fighting,” the coach emphasized.

Turning to the profession itself, he described coaching as an extremely demanding vocation:

“If I do not love and respect my profession, I can never become a good coach,” Q.Qurbanov added.

In his view, a head coach must embody multiple roles simultaneously:

“I believe a coach must always be a leader, especially in football, where this quality is even more crucial. We are the ones who bear responsibility. The final decisions are always made by the head coach. There is a saying in football: when the team wins, the players win; when it loses, the head coach loses. I have always accepted this approach.”

He added that coaches must stand by their players at all times. “We demand, and they execute. Therefore, we must provide maximum support to our footballers,” Qurbanov noted, adding that self-improvement should never stop.

“Even after the age of 60, I believe I must continue developing myself. There are details a coach must constantly monitor, and he must also work on himself physically.”

Addressing structural challenges in Azerbaijani football, Qurbanov pointed to infrastructure issues as a key obstacle. Recalling a recent training camp in Antalya, he highlighted the stark contrast in conditions.

“We recently traveled to Antalya in Turkiye and saw how excellent the facilities are there. In football, passing is fundamental. If training takes place on a poor-quality pitch, and each player is expected to make around 50 passes, it becomes extremely difficult. Such conditions lower the quality of players and affect them psychologically. In this respect, we lag behind European football. If there are no proper conditions, an athlete cannot develop,” he said.

Despite these challenges, Qurbanov remains optimistic about the country’s potential.

‘We have plenty of talented young people in Azerbaijan. I wish for our country to produce the best specialists – not only in sport, but in all fields,” he concluded.

The United Kingdom has appointed a new Ambassador Extraordinary and Plenipotentiary to Azerbaijan. According to AzerNEWS, the British Embassy in Azerbaijan announced this on their “X” account.

Duncan Norman has been appointed to this position.

It is important to note that Duncan Norman will assume his duties in May 2026. Fergus Auld will continue to serve as Ambassador until that time.

This morning, Iran attacked the office of Israeli Prime Minister Benjamin Netanyahu, as reported by AzerNEWS, referencing the Public Relations Department of the Islamic Revolutionary Guard Corps (IRGC).

Additionally, Iran targeted a location where the commander of the Israeli Air Force was present.

The current status of Netanyahu is still unclear, and further details about the operation are expected to be released later.

Israel claims to have killed two senior intelligence officials in Iran

Israel’s army says two senior Iranian intelligence officials have been killed in Iran in the first wave of attacks on the country.

The military statement published on Monday identified the victims as Sayed Yahya Hamidi and Jalal Pour Hussein.

It said Hamidi was deputy minister of intelligence for Israel affairs, claiming he ‘led terrorist activities targeting Jews, Western actors, and regime opponents in Iran and abroad’.

The statement also claimed Hossein was head of espionage division at Iran’s Ministry of Intelligence.

‘Together with them, additional senior terrorists were eliminated,’ it said.

Under the initiative of President Ilham Aliyev, the Turkic Culture and Heritage Foundation (TCHF) has held its third Board meeting in Bishkek, AzerNEWS reports.

The event brought together culture ministers and deputy ministers from TCHF member states, leaders of international organizations of Turkic-speaking countries, members of the diplomatic corps, and media representatives.

Azerbaijan was represented by a delegation led by Deputy Culture Minister Saadat Yusifova.

The meeting was preceded by a TCHF exhibition showcasing books published by the Foundation as well as a photo exhibition of completed restoration projects.

The Board meeting commenced under the moderation of Mirbek Mambetaliev, Minister of Culture, Information, and Youth Policy of the Kyrgyz Republic.

In her address, Aktoty Raimkulova, President of the Foundation, highlighted the organization’s achievements over the past year, noting that more than 135 projects and events had been successfully implemented. She also emphasized the importance of the strategic goals ahead.

Kubanichbek Omuraliev, Secretary-General of the Turkic States Organization, praised the Foundation’s initiatives, stressing that they contribute significantly to the expansion of cultural cooperation among Turkic peoples and the preservation of shared heritage.

Speaking on behalf of Azerbaijan, Deputy Culture Minister Saadat Yusifova underlined the country’s special commitment to collaboration with TCHF.

She noted that joint projects play a crucial role in fostering cultural integration among Turkic peoples, safeguarding their rich heritage, and passing it on to future generations.

Established in 2012, the Turkic Culture and Heritage Foundation focuses on the preservation of the Turkic heritage in member countries as well as conducting projects in collaboration with partners in third nations.

The foundation provides assistance in the protection, study, and promotion of Turkic culture and heritage through supporting and funding various activities, projects, and programs.

The organization carries out its activities in cooperation with TURKSOY and the Turkic Academy.

European Commission President Ursula von der Leyen took to X on Friday to announce that the EU will “provisionally” apply its free trade agreement with South America’s Mercosur bloc despite opposition from France and Hungary, as well as a legal challenge, AzerNEWS reports.

The EU-Mercosur deal is a comprehensive association agreement between the European Union and the Mercosur bloc (Brazil, Argentina, Paraguay, and Uruguay) that aims to establish one of the largest free-trade areas in the world, encompassing more than 700 million people.

Farmers in Europe object that an agreement would result in low-cost imports of goods from South America.

Last month, the European Parliament voted to send the deal to the European Court of Justice for a legal opinion. The move does not necessarily prevent the Commission from implementing the agreement provisionally before MEPs provide their approval. The issuance of the legal opinion could take up to two years.

The Embassy of Japan in Azerbaijan has suspended its activities due to the current situation in the region, AzerNEWS reports.

According to a statement shared on the embassy’s official social media accounts, operations have been halted for an indefinite period.

‘Due to the events taking place in the region, the embassy has suspended its activities for an indefinite period. Acceptance of visa applications and issuance of ready-made visas have also been suspended.

We ask for your understanding. We apologize for the inconvenience,’ the statement said.

The suspension includes both the submission of new visa applications and the collection of previously issued visas.

No timeline has yet been provided for the resumption of services.