Azerbaijan stops transit of oil through Russia

The State Oil Company of the Azerbaijan Republic (SOCAR) decided that from February of 2014, it will re-direct oil transits form Russia to Georgia, Turkey and Europe. The Baku-Tbilisi-Ceyhan pipeline will be utilized. The main reason for this is the fact that the Baku-Novorossiysk pipeline was not used at its full capacity and the companies running the pipeline were receiving losses.