"As Iran stares down the economic consequences of a prolonged blockade of the Strait of Hormuz, attention is shifting north. Tehran may seek to depend less on the Gulf and more on a patchwork of railways, Caspian ports and sanctions-era trade networks linking it to Russia."
"Economic relations between Iran and Russia deepened after the US withdrew from a 2015 nuclear deal with Iran and other nations in 2018 and reimposed sweeping sanctions on Tehran."
"Current trade is dominated by agricultural products especially wheat, barley and corn alongside machinery, metals, timber, fertilisers and industrial inputs."
"Trade turnover reached $4.8bn last year, but we believe that the potential for our mutual trade is much greater, Russian Energy Minister Sergey Tsivilyov stated."
Iran is shifting its focus from Gulf shipping lanes to alternative trade routes with Russia due to economic pressures from sanctions and blockades. The relationship between Iran and Russia has strengthened since the US withdrew from the nuclear deal in 2018, leading to increased trade in agricultural products and military supplies. Iranian Foreign Minister Abbas Araghchi's recent visit to Russia emphasized the importance of this partnership. Despite current trade turnover reaching $4.8 billion, experts suggest that logistical issues may hinder long-term benefits for Iran's economy.
Read at www.aljazeera.com
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