The $6 billion ACE project is the latest development phase in the Azeri-Chirag-Guneshli (ACG) fields

Russian President Vladimir Putin held a telephone conversation with Turkish President Recep Tayyip Erdogan on June 24, the Kremlin press service said. The situation involving Azerbaijan and Armenia was a central topic.

The government and the World Bank were in talks over a $95 million loan and had planned to come to an agreement within two to three months.