Azerbaijan's State Oil Fund ramps up dollar sales

  02 May 2024    Read: 725
Azerbaijan

The State Oil Fund of the Republic of Azerbaijan sold funds worth $623.4 million last month, AzVision.az reports citing the State Oil Fund of Azerbaijan.

Furthermore, this is 2.1 times more than it was during the same period in 2023.

Last April, the State Oil Fund sold funds worth $286 million.

Established by the Republic of Azerbaijan, the State Oil Fund of the Republic of Azerbaijan (SOFAZ) is a sovereign wealth fund (SWF). The fund was established in December 1999 subsequent to the president's issuance of a corresponding decree. The investment fund, established to preserve the nation's oil and gas revenues for future generations, is supervised by a special council presided over by the president of the country.

 


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