Iranian ships are some of the most prolific taking up Russian wheat and grains in the Black Sea. India just signed a deal to transport 12 million tons of grain over this route. Part of this is Iran getting goods into Russia and Russia getting goods into Iran, but the larger desire is also to move goods from both of these countries. And sell to other nations.
Tough economic sanctions the US and European Union imposed on Russia and Iran have succeeded in cutting off those nations from much of the world economy. But they’ve also had an unintended effect: Moscow and Tehran are now joining forces to evade some of the crippling trade restrictions.
They’re investing billions of dollars on an 1,800-mile trade route that enables them to move products of all kinds over land and water that’s beyond the reach of the West–to buyers in the fast-growing economies of Asia.
Bloomberg journalists Golnar Motevalli in London and Jonathan Tirone in Vienna join this episode to describe how this new trade route operates. And Dr. Maria Shagina, an expert in sanctions, explains how sanctions work–and whether Iran and Russia can ultimately succeed in outmaneuvering the West.
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