Iran, Russia, Azerbaijan Reach Major Agreement on Cargo Transit

Iran, Russia, and Azerbaijan have agreed to significantly increase the volume of cargo that passes through their territories from the Baltic Sea and the Barents Sea to the Persian Gulf.

Iran’s Minister of Road and Urban Development Farzaneh Sadegh said on Monday that Tehran, Moscow, and Baku had agreed to set a target of 15 million metric tons (mt) for annual cargo transit via their territories.

Sadegh made the remarks after a trilateral meeting in Baku, where he discussed transport, energy, and customs issues with Azerbaijan’s Deputy Prime Minister Shahin Mustafayev and Russian Deputy Prime Minister Alexey Overchuk.

Sadegh said the three countries had also agreed to streamline and modernize their customs operations to help increase the volume of cargo transit via their territories.

She said that Iran and Russia had accelerated works on the construction of a key railroad link in northern Iran that would significantly boost transit volumes via the International North–South Transport Corridor (INSTC).

Sadegh said that the Russian contractor of the Rasht-Astara railroad will be able to start work on the project after March 2026, when Iran finishes land purchases and other preparations for the construction of the 160-kilometer rail link.

Russia’s Overchuk also hailed the agreements reached during the trilateral meeting in Baku, saying that Iran, Russia, and Azerbaijan have been seeking to create a common commodity market with barrier-free logistics that could cover transit from the Barents and Baltic Seas to the Persian Gulf.

Overchuk told Russia's Tass news agency that increased transit via the INSTC would lead to more economic welfare for the people of the three countries, adding that the project would entail major benefits for producers, exporters, and importers. - Press TV