Share :

Download PDF :

Eurasia Net (24 June 2024)

Brawley Benson

Trade along the North-South corridor is off to a strong start in 2024, a boon for the Kremlin. The route got a big boost from a jump in Russian trade turnover with Iran. 

During the first quarter of this year, trade turnover between Russia and Irangrew by 48 percent over the same period in 2023, a year in which overall commerce between the two countries lagged. While trade increased between Russia and Iran, it decreased by 6 percent year-on-year between Russia and Azerbaijan during the first four months of 2024.

Meanwhile, turnover between Russia and India – the countries at each end of the network of road, rail and sea links – set a new quarterly value record during the first three months of this year, totaling about $17.5 billion, Russia’s RIA Novosti news agency reported. In late 2023, Indian Foreign Minister Subramanyan Jaishankar credited the North-South corridor with spurring growth in bilateral trade. “This project is in line with our interests,” he said. “It is one of our top priorities.”

Click for more