An Iranian diplomat says the InternationalNorth-SouthTransportCorridor(INSTC) can serve as a low-risk, profitable alternative to the Suez Canal, which has been blocked in the past few days, causing billions of dollars in damages every day. Kazem Jalali, the Iranian ambassador to Moscow, tweeted on Saturday that the INSTC can reduce the travel time ...

FNA - Chairman of the Suez Canal Authority Mohab Mamish dismissed Arab media reports claiming that a Ukrainian oil tanker carrying Iran's oil to Syria has been seized in the Canal. "The Suez Canal Authority is bound to the freedom of international shipping in the Canal and permits all ships to cross the Canal except in special conditions," Mamish ...

Sputnik - Earlier, India' Union Commerce and Industry Minister Suresh Prabhu called for the International North-South Transport Corridor (INSTC) to be put into operation "as early as possible." The INSTC's estimated operational capacity is up to 30 million metric tons of goods per year. Russia, India and Iran will meet later this month ...

ISNA- Russia intends to build a new transit corridor with Iran's support to bypass the Baltic Sea and the Suez Canal. The Russian website New Inform said that Iran is interested in a new transit corridor from India to the European Union through the Russian territory and is ready to support this project. In this regard, Iran announced that the volume ...

In addition to the China-led New Silk Road, Eurasian players are boosting the development of the North-South International Transport Corridor which aims to connect South Asian countries with North and Western Europe. Remarkably, Russia is regarded as the backbone of the two projects. The latest trilateral summit ofAzerbaijan, Iran and Russia ...

A major project to foster trade connectivity through a less trodden path straddling a promising market is about to feature prominently in discussions when presidents of Iran, Russia and Azerbaijan meet in Baku on Monday. The International North-South Transport Corridor (NSTC), a multi-model route to link India and the Middle East to the Caucasus,...

The transport corridor from Russia to Iran, through Azerbaijan is a vital part of a larger NorthSouth project, which was stalled after Western sanctions were imposed on Tehran. With the sanctions on Iran now lifted, the project is set to be revived, and fast-tracked forward Russia has agreed to start substantive elaboration work for implementation ...

The Iranian navy's commander, Habibollah Sayyari, announced on Saturday that the 18th navy battle group transited through the Suez Canal. Speaking to Commanders and personnel in the Navy, Habibollah Sayyari stated that Iran's naval strategy has crossed the Suez Canal for the second time since the Islamic Revolution of Iran.   Source: ...