Russian Foreign Minister Sergei Lavrov says the recent incident where a ship blocked the Suez Canal for almost a week highlighted the need for a reliable transit route and the corridor being developed by Iran, Russia and India is best suited to serve that goal. The International North-South Transport Corridor (INSTC), proposed by the three countries ...

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 ...