Russia, Iran, India seek new transport corridor to serve as quicker and cheaper alternative to Suez Canal

Officials from India, Iran, and Russia are going to meet next month to negotiate a large joint project aimed at launching a new cargo transport corridor that could become a cheaper and shorter alternative to the Suez Canal. The new shipment passage, North-South Transport Corridor (INSTC), is set to connect the Indian Ocean with the Persian Gulf through Iran to Russia and Europe, according to Iranian state-owned news outlet Press TV. The 7,200-kilometers long corridor will combine sea and rail routes. “The INSTC is the shortest multimodal transportation route linking the Indian Ocean and Persian Gulf via Iran to Russia and North Europe,” India’s Ministry of Commerce and Industry said in a statement, adding that trilateral talks between the parties are scheduled on November 23.

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