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Iran eyes threefold rise in cargo transit on INSTC in 2024
According to Kazem Jalali, Iran’s Ambassador to Russia, in 2023, Iran commenced cargo transportation operations along this eastern route with the assistance of Russia, Kazakhstan, and Turkmenistan.
“The capacity was 650,000 tons in 2023. Considering the potential of this branch, Iran and Russia have agreed to aim for 2 million tons in 2024,” he was quoted by report.az.
Jalali emphasized that the eastern branch of the INSTC has a capacity of 15 million tons of cargo, and efforts should be made to fully utilize this potential. The INSTC connects northern Europe with the countries of the Persian Gulf and the Indian Ocean via Russia, the Caucasus, and Central Asia.
The agreement to establish this multimodal corridor was signed in 2000 between Russia, Iran, and India. Today, 12 countries are participants in the INSTC. The corridor includes three routes: the western route along the western shore of the Caspian Sea, the eastern route along the eastern shore through Kazakhstan, and the trans-Caspian route across the Caspian Sea.