09:59, September 2, 2015
BY IGGY OSTANIN (BELLINGCAT) AND LORENZO DI PIETRO (IRPI)
Friends and family of President Ilham Aliyev make free use of two luxury yachts worth US$ 59 million that are owned by the State Oil Company of Azerbaijan (SOCAR), the organization charged with managing the country's oil wealth for its citizens.
That means the yachts deprive Azerbaijani citizens of about US$ 12 million per year in oil profits—the amount experts say such yachts typically cost to run. That's in addition to the US$ 2,000 worth of fuel per hour that the yachts consume.
It's not the first time SOCAR has been so accommodating to the Aliyevs. The First Family previously used SOCAR to register their US$ 25 million London mansion.
Armenian News
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