One of the key trade routes between Iran and Russia is the International North-South Transport Corridor (INSTC)
Iran and Russia are determined to implement the North-South Corridor as soon apossible, the Iranian Minister of Economic Affairs and Finance says, according to MNA.
Referring to his meeting with Igor Levitin, an aide to the Russian president, Abdolnaser Hemmati, the Iranian Minister of Economic Affairs and Finance said, “In this meeting, we discussed the important issue of implementing the North-South Corridor project.”
Persian Gulf countries
In this meeting, Russia emphasized that it is determined to implement this project because it is beneficial for Iran and Russia, and Asian countries, including India and the Persian Gulf countries, will benefit from it, Hemmati said.
“We called on Putin’s aid to invite the member countries in the North-South Corridor project in Iran and to achieve the desired result for implementing this corridor as soon as possible,” the Iranian Economic Minister said.
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Key trade routes
One of the key trade routes between Iran and Russia is the International North-South Transport Corridor (INSTC), a multimodal transportation network connecting India and the Persian Gulf to Russia and Northern Europe. The transport corridor is crucial to Russian and Iranian relations and trade.
Rail route
The corridor includes seaports on the Persian Gulf and in the Caspian region, as well as road and rail routes. The rail route from Iran to Russia will bring both parties economic benefits, as cargo will be able to move quickly and easily between the two nations
Railways are expected to play a key role in the development of the INSTC, with the completion of the Rasht-Astara railway which is a crucial component of the corridor.
Port of Bandar-e Anzali
This railway will link the Iranian port of Bandar-e Anzali to Russia’s railway network and beyond, providing a direct and efficient route for goods to travel.
However, the North-South Corridor is still under development and has not yet been fully operationalized. While some sections of the corridor have been completed, including the railway between Iran and Azerbaijan, many road connections within Iran are still under construction.
INSTC
It is noteworthy that INSTC has become vital for trade and commerce between the two nations. The transportation of diesel and gasoline by rail from Russia to Iran and vice versa is becoming increasingly important due to high transportation rates and limits for sea transportation.
