TEHRAN- Russian Deputy Prime Minister Andrey Belousov said that the International North–South Transport Corridor (INSTC) passing through Iran can be a safe alternative to the Suez Canal.

The current transportation infrastructure, which was historically created to move goods between East and West, can no longer meet the needs of the world, the Russian official stated.

The importance of the North-South International Transport Corridor and other alternative routes is increasing due to the shift of global markets towards China, Southeast Asia and the Persian Gulf, he noted.

The Russian official emphasized that the North-South Corridor could be a serious competitor to the Suez Canal.

Belousov emphasized that the Suez Canal is currently the only way to connect Asia to Europe through deep waters, and such monopoly can be risky for the global economy.

The North-South Corridor is a combined rail-sea-road transit route of 7,200 kilometers that reaches Europe by passing through India, Iran, Azerbaijan, Russia, and Central Asia.

It should be mentioned that Iran and Russia reached an agreement last year for reviving the idle section of the International North-South Transport Corridor in Iran for expanding transit ties.

The first Russian freight train arrived at Iran’s Sarakhs railway station in Khorasan-Razavi province on the border with Turkmenistan last July to officially launch the eastern section of the INSTC.

MA