U.S. Government Approves Over $339 Million Loan to Azerbaijani Airline Despite Armenian Advocacy

The Export-Import Bank of the United States (EXIM), a government agency that supports American jobs by helping U.S. companies sell their products abroad, has approved a large loan of over $339 million to Silk Way West Airlines, a cargo airline based in Azerbaijan. This decision has raised serious concerns among Armenian-American organizations and human rights advocates, especially given the airline's close links to Azerbaijan’s government and its alleged role in transporting weapons used in regional conflicts.

The loan is part of a larger package approved by the EXIM Board of Directors, which includes three transactions worth more than $350 million in total. According to EXIM’s statement, the aircraft funded by the loan will be delivered by Spring 2026 and are expected to support an estimated 700 American jobs, mainly in the aviation and manufacturing industries.

Silk Way West Airlines is purchasing Boeing cargo planes—aircraft built in the U.S.—which is why the EXIM Bank is involved. The bank’s mission is to boost American business and compete globally, especially with countries like China.

Silk Way Airlines is not just any airline. In past reporting by Radio Free Europe/Radio Liberty (RFE/RL), it was revealed that the family of Azerbaijan’s President, Ilham Aliyev, has been among the airline's shareholders. Investigations over the years—including those by the Organized Crime and Corruption Reporting Project (OCCRP)—have tied the airline to the transport of weapons, including during the violent war launched by Azerbiajan in Nagorno-Karabakh (Artsakh) followed by the full-scale occupation of the indigenous Armenian region in the South Caucasus.

These links have alarmed many Armenian-Americans and international watchdog organizations. They warn that helping this airline through U.S. government-backed loans could indirectly support Azerbaijan's military efforts, including past and potential future attacks against the Armenian people.

Back in January 2025, the Armenian National Committee of America (ANCA) launched a nationwide campaign urging the U.S. government to reject any financial support for Silk Way Airlines. At the time, EXIM had just received a request from Boeing for more than $100 million to help sell cargo aircraft to the airline. ANCA’s campaign encouraged Americans to speak out, arguing that approving the deal would be harmful, both morally and legally.

In a strong statement, ANCA said this kind of financial support would:

• Break U.S. export laws related to dual-use items—technology that can be used for both civilian and military purposes.

• Endanger peace in the region, especially for Armenia and Artsakh (Nagorno-Karabakh), which has faced repeated attacks and occupation from Azerbaijan.

• Contradict American foreign policy, especially given Azerbaijan's history of human rights abuses and ethnic cleansing.

• Help enable genocide, since Azerbaijan has already forced over 100,000 ethnic Armenians to flee from Artsakh in 2023.

ANCA also pointed to Silk Way’s role in transporting arms that were used in violent operations against Armenian civilians and soldiers. Human rights organizations like Freedom House have documented these cases and called for international accountability.

This new decision by EXIM comes at a time when Azerbaijan faces growing criticism for its aggressive behavior in the region. After the forced exodus of Artsakh’s Armenian population in late 2023, many believe Azerbaijan is attempting to erase Armenian history and culture from the region.

Yet, despite these warnings, the U.S. government appears to be moving forward with supporting deals that critics argue could indirectly fund further conflict. The $339 million loan is one of the largest EXIM approvals in recent months, and it places a spotlight on the tension between business interests and human rights values in U.S. foreign policy.

In addition to the Silk Way deals, EXIM also approved an $11 million loan to IperionX Technology LLC, a small business in Virginia that produces titanium parts for 3D printing and advanced manufacturing. This funding is part of EXIM’s "Make More in America" initiative, which aims to boost domestic production of critical materials.

The aircraft deal is now set to move forward, with planes expected to reach Azerbaijan by 2026. Armenian organizations have vowed to continue pushing back, demanding greater oversight of U.S. financial assistance and calling for stronger accountability in line with American values.