Why Russia is banking on $1.7 billion railway plan in Iran to come closer to Mumbai

News Snapshot:

Russia is helping Iran to finance and build a 164-km Rasht-Astara railway that costs $1.7 billion (about Rs 14,000 crore). This rail line is part of the International North–South Transport Corridor that will reduce the time to haul cargo from St. Petersburg to Mumbai to only 10 days The rail link in Iran will ease access for Russia to places like Mumbai. AFP File Photo Russia is banking on rail freight to mitigate the effect of Western sanctions on its economy. Moscow is investing billions to expand its trade ties with India and the countries of the Persian Gulf. For...