Russia to Provide Loan to Iran, Lavrov Announces

In the framework of the "North-South" international transport corridor, a Russian export loan will be allocated for the construction of the Rasht-Astara railway. This was announced by Russia's Foreign Minister Sergey Lavrov.

He added that the Iranian side is taking the necessary steps before the construction of the railway begins.

“We expect that construction will start in the near future. For this purpose, a Russian export loan will be provided. The Rasht-Astara section is of great importance, as it is a necessary component for the full operation of the "North-South" transport corridor,” Lavrov said following negotiations with his Iranian counterpart Abbas Araghchi.

According to him, trade between Russia and Iran has a positive dynamic, with trade volume increasing by more than 13% last year, and there are all grounds to assume that this trend will continue. An intergovernmental agreement on free trade between EAEU members and Iran will soon come into force, which, according to Lavrov, will boost trade between Iran and neighboring countries throughout the region.

Both ministers pointed to the unacceptability of unilateral economic sanctions, stating that Moscow and Tehran will continue targeted work aimed at minimizing the negative impact of these illegal restrictions on the economies of Russia and Iran.