Azerbaijan's state oil company, SOCAR, will receive a $1.5 billion loan from Russia's Lukoil as part of a deal to supply crude oil to SOCAR's oil refinery in Turkey.
Expansion of the Southern Gas Corridor pipelines carrying Azerbaijani gas to Europe is on hold pending confirmation that Europe will buy the gas. Baku's offensive to retake Nagorno-Karabakh could further complicate things.
Exports of Azerbaijani oil via the Black Sea were restarted but only temporarily, while exports of Russian crude oil through Azerbaijan have finally been halted due to EU sanctions.