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(Radio Farda) The state-owned Russian Railways has pulled out of a $1.3 billion project for electrification of a railway line between Garmsar in Iran and Ince Burun in Turkey due to the pressure of U.S. sanctions imposed on Iran, Interfax reported on Tuesday. The Russian government had undertaken to provide 85% of the funding. Iran and Russia have signed multiple contracts in recent years, but none of them have materialized so far. 2020-02-28 00:00:00Full Article
Russia Pulls Out of $1.3 Billion Railway Project with Iran
(Radio Farda) The state-owned Russian Railways has pulled out of a $1.3 billion project for electrification of a railway line between Garmsar in Iran and Ince Burun in Turkey due to the pressure of U.S. sanctions imposed on Iran, Interfax reported on Tuesday. The Russian government had undertaken to provide 85% of the funding. Iran and Russia have signed multiple contracts in recent years, but none of them have materialized so far. 2020-02-28 00:00:00Full Article
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