Baku cons Hungary: Azerbaijan backs off on buying Hungarian securities

September 3, 2012 - 20:02 AMT

PanARMENIAN.Net - Azerbaijani State Oil Fund (SOFAZ) has no plans to invest in securities and other financial instruments in Hungary, it said, according to Trend News.

Information on the purchase of Hungarian securities by Azerbaijan came after the release of Azerbaijani officer.

According to earlier reports, Ramil Safarov, convicted in Hungary over the murder of Armenian lieutenant was extradited to Azerbaijan in exchange for Azeri purchase of Hungarian securities worth Euro 2-3 billion.

SOFAZ slammed the report as “false.” Azeri sources, however, report that Safarov was extradited following a certain “deal” struck between Hungary and Azerbaijan.

Safarov, the Azerbaijani army officer who was serving a life sentence in Hungary for axing to death Armenian Lt. Gurgen Margaryan, was extradited to Azerbaijan and pardoned by Azerbaijani President Ilham Aliyev.

Official Yerevan reacted by suspending diplomatic ties with Hungary.

Gurgen Margaryan

On February 19, 2004, Lieutenant of the Armenian Armed Forces Gurgen Margaryan, 26, was hacked to death, while asleep, by a fellow Azerbaijani participant, lieutenant Ramil Safarov, in Budapest during a three-month English language course in the framework of Partnership for Peace NATO-sponsored program. In accordance with Budapest District Court sentence dated April 13, 2006, Ramil Safarov was life imprisoned for murdering the Armenian officer.

On February 22, 2007, Budapest Court rejected the Azerbaijani military officer's appeal against a life sentence. The appeal court ruled that the decision brought by Budapest District Court against 30-year-old Lieutenant Ramil Safarov, should stand.

On August 31, 2012, Hungary extradited Safarov back to Azerbaijan, where he was promptly pardoned by President Ilham Aliyev.