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Russia and Iran are working on a new trade corridor that will end their dependence on Europe.

According to foreign media, both countries are working on a partnership with India.

A senior Iranian official has said that 3,300 km of railway track is under construction in Iran and that 560 km of this new track will be operational by March.

Completing all these projects will expand the country’s railway network by 20 percent.

6,000 km long highways are also under construction; work on the 1,000 km highway will be completed in March.

A four-lane highway connecting the Qazvin Sea and the Persian Gulf was opened last year.

Iran wants to exploit its potential as a transport hub between Asia, Russia and Europe.

Russia, India and Iran signed an agreement in 2002 for the ‘International North-South Transport Corridor’, which will connect India and Russia through Iran and Azerbaijan.

This corridor will be a major route for Russian exports to South Asia and Russia will not have to go through Europe.

A senior Iranian diplomat visited India in November to discuss the construction of the Chabahar port, thus linking India to the rest of the corridor.

Tehran and Moscow say that this route will be politically and economically beneficial for New Delhi.

In this way, India will be helped to increase trade through Iran to Central Asia.

But using Iran and Russia as a trade corridor is a challenge for India as these two countries are not only cut off from the global supply chain but also excluded from the international financial system.

By Admin