Russia and Azerbaijan have started building modern oil tankers at the Baku Shipyard, which will significantly increase the supply of oil and its derivatives from Russia and Azerbaijan to global markets. Russian President Vladimir Putin announced at a joint press conference with Azerbaijani President Ilham Aliyev in Baku on Monday that the Russian United Shipbuilding Corporation, in cooperation with the Baku Shipyard, has begun constructing modern river-sea oil tankers for transporting oil products through various routes, including the Sea of Azov, the Black Sea, and the Caspian Sea, which will lead to a significant increase in energy supplies to global markets. Putin emphasized that the “North-South” shipping corridor between Russia, Eurasia, and the Gulf region is a very important project that will bring mutual benefits to both countries. He noted that trade between Russia and Azerbaijan grew by 17% in the first half of this year. Putin also highlighted that Russia is among the top investors in Azerbaijan, with 1,300 Russian companies operating in Azerbaijan, including Lukoil for oil and oil derivatives and Kamaz for heavy and light truck manufacturing.