Wednesday, April 24, 2024

“Iran and Russia agree on transit of 10mn tons of goods via Iranian territory”

Iran’s deputy minister of roads and urban development says the country and Russia have reached an agreement on the details of carrying 10 million tons of goods from Russia via the north-south corridor of the Islamic Republic.

Shahriar Afandizadeh told the national radio and TV organization (IRIB) that the memorandum of understanding between the two sides puts emphasis on transit in addition to imports and exports. Afandizadeh added that the value of trade exchanges between Tehran and Moscow is nearly 4.5 billion dollars.

He said trade exchanges between Russia and the EU were over 250 billion euros but they plummeted due to the Ukraine war. The official said that Iran can use this opportunity as it now is a good alternative transit route for Russia.

According to Afandizadeh, Iran and Russia are inter-connected either via the Caspian Sea or through their railway networks.

He noted that if Iran can expand its railway networks including its locomotives and wagons, it will be able to reach the foregoing amount of trade with the Russian side.

Afandizadeh said what matters most for Russia is its ability to invest in Iran’s port cities of Chahbahar and Bandar Abbas as well as Iran’s northern ports as regional hubs and “we hope that both Russia and Iran will use this opportunity to reach the level of 10-million-ton transit of goods.”

As to when agreements between Tehran and Moscow will go into force, Afandizadeh said hopefully, the two sides will implement their deals in 2023.

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