Russia, Iran to build new transit corridor

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Tehran (ISNA) - Russia intends to build a new transit corridor with Iran's support to bypass the Baltic Sea and the Suez Canal.

The Russian website New Inform said that Iran is interested in a new transit corridor from India to the European Union through the Russian territory and is ready to support this project. In this regard, Iran announced that the volume of commodities trade in its ports has recognized a great growth.

Iran is also making efforts to develop port infrastructure, which should become one of the important components of Russia's "North-South" logistics corridor.

This website adds that to achieve this project, Iran has ordered port equipment with a value of $85 million from India which shows Iran’s interest in the transit corridor through Russian territory.

Moreover, India has announced that it is ready to export goods to the European Union bypassing the Suez Canal and the countries of the Baltic region.

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