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Eastern Economic Forum

IMEC project not an obstacle for Russia — Putin

Cargo within the IMEC framework should initially reach the sea coast by rail and thus undergo transshipment and then reloaded to the railroad again in ports of the UAE or Saudi Arabia, the Russian leader noted

VLADIVOSTOK, September 12. /TASS/. The United States ventured at the last moment by agreeing to create the India - Middle East - Europe Economic Corridor (IMEC) with the European Union, Saudi Arabia and India but the project will benefit Russia, President Vladimir Putin said at the plenary session of the Eastern Economic Forum (EEF).

"I believe this will only benefit us. I think this will only help us to develop logistics. Firstly, this project has been discussed for long, for as much as several years. Truly, the US jumped into this train at the last moment. I do not see much sense for them to be in this project. Probably, only from the standpoint of business interests. Meanwhile, the extra freight traffic along this route essentially supplements our North-South project. We do not see anything there that can somehow interfere with us," Putin said.

Cargo within the IMEC framework should initially reach the sea coast by rail and thus undergo transshipment and then reloaded to the railroad again in ports of the UAE or Saudi Arabia, Putin noted. "Such double transshipment is important for the entire project economics. This should be calculated," the head of state added.

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Vladimir Putin Eastern Economic Forum

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