President Aliyev warns Middle East turbulence hurting even oil-rich economies

“What is happening now in the Middle East, to a certain degree, influences everybody because some may think that a high oil price could be beneficial. Yes, it is. But at the same time, countries which are rich in oil reserves, many of them are investing in the treasuries. Many of them are investing in the stock markets. And when this turbulence happens, the stock market goes down. So we lose money from our investments while earning a little bit from the high oil price,” President Ilham Aliyev said during his speech in an interview with Euronews TV on May 18.