Russia and Iran inked an agreement to finance a $1.7 billion rail system to connect a major global trade network amid international sanctions.
and his Iranian counterpart Ebrahim Raisi virtually oversaw the signing of a $1.7 billion intercontinental rail system that Moscow claims will rival the Suez Canal as a major global trade route. the Rasht-Astara railway set to connect India, Iran, Russia, Azerbaijan and other nations with a sea route under the International North–South Transport Corridor.
Russian President Vladimir Putin takes part in the ceremony of signing an agreement on the construction of the Rasht-Astara railway with Iranian President Ebrahim Raisi via videoconference at the Kremlin in Moscow Wednesday, May 17, 2023. According to the Iranian Transport and Urban Development Ministry, Russia will invest $1.7 billion in the railway route, though it did not specify whether Iran would also be contributing to the financing of the rail system, the Tehran Times reported.
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