Russia, Iran ink rail deal for major corridor intended to rival Suez Canal

Wednesday, May 17, 2023 | Tag Cloud

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(Worthy News) – Iran and Russia on Wednesday agreed to collaborate on the construction of the final part of an embryonic international North-South Transport Corridor linking the Gulf and India while avoiding Western sea lanes.

The Rasht-Astara railway is seen as an important link in the corridor, intended to connect India, Iran, Russia, Azerbaijan, and other countries via railways and sea – a route that Russia says can rival the Suez Canal as a major global trade route. Russia and Iran are both under international sanctions that restrict trade.

“The unique North-South transport artery, of which the Rasht-Astara railway will become a part, will help to significantly diversify global traffic flows,” said Russian President Vladimir Putin, who oversaw the signing of the deal via video link alongside his Iranian counterpart Ebrahim Raisi. [ Source; i24 (Read More…) ]

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