Russia and Iran sign transport deal

RUSSIA / FSU POLITICS - In Brief 17 May 2023 by Alex Teddy
On May 17 the countries agreed to cooperate on a commercial transport system to connect the Persian Gulf and India. Both nations wish to circumvent sea lanes. It also relates to a 164-km-railroad in Iran due to be completed by the end of 2026. This will allow goods to travel by train from Russia through Azerbaijan and Iran and then by sea to India. This route is 7 200 km.  The agreement was signed in Teheran. The Iranian president was present. Iran hopes to increase trade with Russia. The new route will cut transit time from St Petersburg to Mumbai from a minimum of 30 days now to 10 days in the future.  Iran has been under sanctions most of the time since 2005. It has become adept at creating workarounds. Russia thinks its trade with Iran along the new railroad could be 1.5 million tons of goods by 2030. The US has been accusing Iran of supplying Russia with drones during the war. Iran denies this. VTB, Russia's second biggest bank, set up an office in Iran in April 2023. 

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