An Iranian firm is seeking full ownership of a key terminal at Russia’s Astrakhan port on the Caspian Sea, a development regarded as one of the strongest signs that Moscow and Tehran are deepening economic and strategic ties.
The news confirms reports that there is growing cooperation on the International North-South Transport Corridor (INSTC) a multimodal supply chain route that could take yet more load away from links such as the Suez Canal.
Nasim Bahr Kish, which already holds a 53% majority stake in the terminal, has formally offered to acquire the remaining shares – including a 25% stake currently held by the Russian government.
Valued at approximately 437.5 million roubles (about $53 million), it would make the Iranian company the sole owner of the terminal.
Astrakhan port serves as a critical gateway for Russian exports across the Caspian Sea and further into Iran, Central Asia, and India via the INSTC.
The terminal handles a broad range of goods, including grain, timber, metal products and fertilisers – commodities central to Russia-Iran trade, especially since both countries have faced escalating Western sanctions in recent years.
Tehran Times and Reuters report that officials view the proposed acquisition as a step towards tighter logistical integration.
The two nations have also recently announced plans to form a joint maritime transport consortium to streamline operations across Caspian Sea routes.
A high-level meeting is reportedly being organised in Makhachkala – another key Russian port – to bolster cooperation.
Analysts see it as an attempt by Iran to grow its influence in the Caspian region as it endeavours to become a key logistical hub between Asia and Europe.
With the INSTC gaining traction and Moscow increasingly turning eastward for trade partnerships, Tehran's stake in Astrakhan could offer long-term strategic leverage.
Should the offer be accepted, it would mark the first time an Iranian company has taken full control of a major terminal in a Russian port – a notable milestone in bilateral relations.
