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Iran, Russia ink $1.6 billion rail deal to rival Suez Canal

Iran and Russia agreed to build a railway between two Iranian cities as they continue to develop their trade relations despite US sanctions.

Russian President Vladimir Putin and Iran's President Ebrahim Raisi hold a meeting in Tehran on July 19, 2022. - Iran's president will host his Russian and Turkish counterparts for talks on the Syrian war in a three-way summit overshadowed by fallout from the Russian invasion of Ukraine. (Photo by Sergei SAVOSTYANOV / SPUTNIK / AFP) (Photo by SERGEI SAVOSTYANOV/SPUTNIK/AFP via Getty Images)
Russian President Vladimir Putin and Iran's President Ebrahim Raisi hold a meeting in Tehran on July 19, 2022. — SERGEI SAVOSTYANOV/SPUTNIK/AFP via Getty Images

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