Iran, Russia working on new trade route with India to bypass Western sanctions: Report

Russia and Iran are reportedly drawing out plans for a new shipping corridor with India in order to bypass the European sanctions, Nikkei Asia has reported.The plan is being formulated as a countermeasure to the US-led push for "friendshoring," an effort to relocate supply chains to allies and friendly countries.However, India, which has not announced any sanctions against both countries, is yet to respond regarding the new trade corridor. It neither joined the West in condemning Russia over the war nor commented on the anti-government protests in Iran.

Iran has already been working to expand its railway and road infrastructure, pitting itself to be a potential transport hub between Asia, Russia and Europe.

Tehran has constructed 3,300 kilometres of railways throughout across the country, while 6,000 km of highways are also under construction, with 1,000 km set to finish by March, Nikkei Asia quoted a senior Iranian official.

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Apart from that, the Islamic country in 2022 opened a four-lane highway linking the Caspian Sea and the Persian Gulf.

Back in 2002, Iran, Russia and India signed an agreement for the construction of the International North-South Transport Corridor, connecting India and Russia through Iran and Azerbaijan, bypassing the Suez Canal.

Russia wants to exploit this corridor to boost its exports to South Asian countries via Iran and cut reliance on Europe.

In July, Russian President Vladimir Putin met his Iranian counterpart Ebrahim Raisi in Tehran, where both agreed on the need to complete the construction of the Rasht-Astara rail link in northern Iran, which is part of the proposed route.

(With inputs from agencies)

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