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17 Jan, 12:56Updated at: 13:32

Development of North-South corridor to be engine of Russia-Iran trade — Iranian expert

"The meeting of presidents of Iran and Russia just before the inauguration of [US President-elect] Donald Trump [on January 20] may send out many political signals to the American side," Mehdi Seif Tabrizi said

MOSCOW, January 17. /TASS/. The use of the North-South international transport corridor will allow boosting the volumes of the Russian-Iranian trade turnover, which is expected to exceed $4 bln in 2024, Iranian political scientist Mehdi Seif Tabrizi told TASS.

"The development of transport corridors is one of the most important areas of cooperation between Iran and Russia. They may be considered not only as an engine of bilateral trade, but also as one of the main ways of countering Western sanctions against Tehran and Moscow. The expansion of cooperation between Iran and Russia will become a serious argument for countering the Western hegemony," he said. The signing of the Treaty on Comprehensive Strategic Partnership by Moscow and Tehran on January 17 "will open up new possibilities for cooperation in the area of defense and security, energy, credit and banking, agriculture, technological and transport sectors," Seif Tabrizi said.

"The meeting of presidents of Iran and Russia just before the inauguration of [US President-elect] Donald Trump [on January 20] may send out many political signals to the American side," the Iranian analyst said. "Tehran stands on the cusp of a new round of talks with the West on the nuclear program whereas the events that occurred in the Middle East over the past months have created an illusion of Iran's weakening among regional and global powers," he added.

"The signing of the Treaty on Comprehensive Strategic Partnership with Russia sends a signal to the world that Iran remains one of the key players in the Middle East. In the new round of talks on the nuclear program the partnership with Russia may seriously strengthen Iran’s negotiating capacity," the political scientist stressed.

The Treaty on Comprehensive Strategic Partnership to be signed later in the day by President Vladimir Putin of Russia and President Masoud Pezeshkian of Iran is designed to bring Russia-Iran relations to a new level, cementing their status as strategic partners. The document also sets legal framework for further expansion of long-term cooperation. According to officials from both parties, the document will cover all areas, including defense, the fight against terrorism, the energy sector, finances, transport, industries, agriculture, culture, science and technology.

An intergovernmental agreement on the creation of the multimodal transport corridor North-South spanning 7,200 km was signed by Russia, India and Iran in 2000. Later, the number of participants rose to 14. The project is seen by Russia and Iran as an alternative to the Suez Canal trade route that will reduce the time of transportation of cargoes in Eurasia. The western overland branch of the corridor passes through Azerbaijan, while its eastern branch passes through Turkmenistan and Kazakhstan. The sea route runs through the Caspian Sea.