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The article analyzes the fact that Azerbaijan is one of the oldest and richest oil fields in the world, the penetration of foreign capital flow with the increase of oil production in the Baku region starting from the middle of the 19th century, the share of Azerbaijani oil in world oil production at the end of the 19th and the beginning of the 20th century, the increasing role of oil during the First World War, the struggle for Baku oil between Soviet Russia and the Entente countries after the war, the plans of fascist Germany to seize Baku oil during the Second World War, the exceptional role of Baku oil in the victory of the Soviet Union in the war, and the strict control of oil production by Moscow during the USSR, the interests of international powers and regional states in hydrocarbon resources in the Caspian region after the fall of the USSR, the oil strategy implemented by Heydar Aliyev in the 90s and its historical significance. Keywords: Azerbaijan; Caspian sea; oil; US; UK; Russia; Türkiye; agreement.

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