1 hr ago
Putin backs India ties, North-South corridor funding plans
Russia wants to strengthen its trade relationship with India.
President Vladimir Putin said the two countries could work together in many areas, not only transportation.
They are discussing how to use major shipping and land routes together.
One important route is the International North-South Transport Corridor.
It would move goods between India and Europe through Iran, the Caspian region, Russia, and other countries.
Russia says it can provide loans to help build the route.
However, Iran still needs to finish its part of the project.
Azerbaijan has agreed to support the section that crosses its territory.
Putin also thanked Indian Prime Minister Narendra Modi for encouraging peaceful talks to end the Ukraine conflict.
Vladimir Putin said Russia sees significant potential for economic cooperation with India beyond logistics.
Russia is discussing joint use of international maritime and transport corridors with India after piloting Chinese and South Korean container ships.
Putin said Russia is prepared to provide credit for the International North-South Transport Corridor, while Iran must complete its section.
He said transit through Azerbaijan remains viable and that President Ilham Aliyev has agreed to the arrangement.
Putin praised Prime Minister Narendra Modi’s efforts to promote a peaceful, mutually acceptable resolution to the Ukraine conflict.
- Who
- Russian President Vladimir Putin, Indian Prime Minister Narendra Modi, and officials from Russia, India, Iran, and Azerbaijan.
- What
- Russia expressed support for deeper economic cooperation with India and offered potential credit for developing the International North-South Transport Corridor.
- Where
- The remarks were made in Moscow, while the proposed corridor would connect India with Europe through Iran, the Caspian region, Azerbaijan, Russia, and other areas.
- When
- Putin made the remarks on Thursday at the Valdai Forum; the articles also referenced earlier proposals and the corridor’s first commercial consignment in July 2022.
- Why
- The countries want to expand trade and create alternative transport links, while Russia also cited the corridor’s wider economic potential.
Key facts
- Corridor
- The International North-South Transport Corridor is a multimodal ship, rail, and road route linking South Asia with Europe.
- Planned route
- Goods would travel from India to Iran, across or around the Caspian Sea, and onward through Russia to northern Europe.
- Russian support
- Putin said Russia is ready to provide credit resources for the project.
- Iranian role
- Putin said Iran must complete its part of the corridor before progress can continue.
- Azerbaijani role
- A section of the corridor would pass through Azerbaijan, which Putin said had agreed to the arrangement.
- Project history
- Russia, Iran, and India signed an agreement to develop the corridor in 2001; its first commercial consignment began in July 2022.
- Additional proposal
- Russian Deputy Prime Minister Marat Khusnullin said a direct rail connection to the Indian Ocean should be examined as an alternative to routes through the Bosphorus and Strait of Hormuz.
Quotes
Vladimir Putin
President of Russia speaking at the Valdai Forum
“We have piloted a Chinese container ship and a South Korean ship, and we are talking to our Indian friends as well. So we stand in favour of jointly using these promising international corridors... Now, as far as the North-South transport corridor is concerned, it does not depend solely on us.”
firstpost.com
republicworld.com
“We stand ready to provide the credit resources. But right now, our Iranian friends have to complete their part of the work... Part of the corridor must go through Azerbaijan, President Aliyev, and we are in contact. There are no problems there. Azerbaijan agrees.”
firstpost.com
Sources
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