Baku: Azerbaijan and Iran have reached an agreement on the operational modes for the distribution of the Araz River's water resources. This development marks a significant milestone in the management of shared water resources between the two nations.

According to Azerbaijan State News Agency, the agreement follows detailed discussions aimed at ensuring the sustainable and equitable use of the Araz River. The river, which serves as a crucial water source for both countries, has been a focal point of bilateral cooperation. The newly approved operational modes are expected to enhance resource management and strengthen the relationship between Azerbaijan and Iran.

In a related development, Baku has recently hosted discussions focusing on the new geopolitical realities in the South Caucasus region, emphasizing Azerbaijan's commitment to a peace agenda. These discussions are part of broader efforts to address ongoing regional challenges and promote stability.

Meanwhile, Azerbaijan has sent 17 wagons of diesel fuel to Armenia, reflecting ongoing economic interactions between the neighboring countries. This move is seen as a step towards fostering economic cooperation in the region.

Additionally, the Economic Council of Azerbaijan is actively discussing the development of the Alat Free Economic Zone. The council's efforts are aimed at boosting economic growth and attracting foreign investment to the area.

In other news, former U.S. President Donald Trump has expressed his preference to take control of Iran's Kharg Island, highlighting geopolitical interests in the region. Meanwhile, the European Central Bank has raised interest rates for the first time in three years, citing inflation pressures exacerbated by the ongoing conflict in Iran.