According to Azeri officials, the US-based Citibank has confirmed its intention to go ahead with financing the exploration and development of three oilfields on Azerbaijan´s Caspian shore, at a cost of $300 million. Defined as "less accessible deposits," the three sites hold an estimated 63 million tons of oil. The projects are a joint Azeri-American venture. Azeri officials point out that Soviet-era attempts to exploit the three sites failed and that they now hope to develop them with American assistance. (11)
Armenian Law Bars Dual Citizenship, May Irritate Diaspora.