Iranian firm seeks full ownership of Russian port on Caspian Sea

Russian port of Astrakhan (Photo: Wikipedia/Phaata)

An Iranian company is seeking full ownership of a key port in the Russian port of Astrakhan on the Caspian Sea, a development seen as one of the clearest signs yet that Russia and Iran are deepening economic and strategic ties.

There are reports of growing cooperation on the International North-South Transport Corridor (INSTC), a multimodal supply chain route that could take more cargo traffic away from connecting routes such as the Suez Canal.

Nasim Bahr Kish, which already holds a 53% majority stake in the port, has formally offered to buy out the remaining shares – including the 25% currently held by the Russian government.

The deal, valued at around 437.5 million rubles (around $53 million), would make the Iranian company the sole owner of the port.

The port of Astrakhan serves as a key gateway for Russian exports across the Caspian Sea and further to Iran, Central Asia and India via the INSTC corridor.

The port handles a wide range of cargo, including grain, timber, metal products and fertilizers – all key to Russia-Iran trade, especially since both countries have faced escalating Western sanctions in recent years.

The Tehran Times and Reuters news agency reported that officials see the proposed acquisition as a step toward closer logistics integration.

The two countries also recently announced plans to form a joint shipping venture to optimize operations on Caspian Sea routes.

A high-level meeting is reportedly being held in Makhachkala – another important Russian port – to deepen cooperation.

Analysts see this as an attempt by Iran to increase its influence in the Caspian region as it seeks to become a key logistics hub between Asia and Europe.

As the INSTC corridor gains traction and Russia looks increasingly eastward for trade partners, Iran’s stake in Astrakhan could provide long-term strategic leverage.

If the proposal is approved, it would be the first time an Iranian company has taken full control of a major terminal at a Russian port – a notable milestone in bilateral relations.

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Source: Phaata.com (According to Freight News)

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