Page 17 - Azerbaijan State University of Economics

THE JOURNAL OF ECONOMIC SCIENCES: THEORY AND PRACTICE, V.72, # 1, 2015, pp. 5-26

the impact of international sanctions in 2006, decided to mend fences with Turkey in

order to sell more energy resources to the immediate neigbour via pipelines, since it

lacked LNG ships. Both states are striving to further develop the trade ties and to

bring the turnover to 30 billion dollars. Today Iranian market remains the third most

important export destination to Turkish goods worldwide [20].

Turkish leadership publicly supported Iranian regime after questionable

elections of 2009 and also remained friendly after the suppression of Green revolution

in 2009-2010. In respect of international sanctions Erdoğan repeatedly declared that

world community turned the blind eye towards nuclear program of Israel, but

punished Iran instead. In 2010 official Ankara together with Brazil proposed a swap

deal which allowed Iran to send 1200 kg of enriched to 20 per cent uranium to Turkey

and receive instead 120 kg of safe nuclear fuel for the Tehran Research Reactor. But

the agreement was not carried out [21]. During the same year the Turkish

representative voted against the proposal of the USA to strengnten sanctions against

Iran in the United Nations Security Council and today Turkey continues to host the

negotiations of European members of the «Group 5+1» with Iran [22].

Many observers believe that official Ankara is striving to develop own nuclear

industry in order to reduce high expenses on imported oil and does not want to

create dangerous precedent for the world community with Iranian sanctions. It is

known that the country signed several agreements with Russian and Franco-

Japanese consortium to build two nuclear plants at Akkuyu and Sinop with price of

22 billion dollars each. The possibility of construction of third plant is also under

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