Azerbaijani SOFAZ's investments in derivative financial instruments take nosedive

The State Oil Fund of Azerbaijan (SOFAZ) sharply reduced its investments in derivative financial instruments from 2.2 billion manat ($1.29 billion) at the end of 2023 to just 53,000 manat ($31,200) by the end of last year. This marks a decrease of over 2.1 billion manat ($1.26 billion), or more than 41 times.