Russia’s government-backed VTB Bank is working to raise financing for the International North-South Transport Corridor that links St. Petersburg with the Indian Ocean. The bank issued a statement which said:
“We estimate that the International North-South Transport Corridor can become one of the main transportation routes of Eurasia, providing an alternative to the Suez Canal, among other things, and opening up new economic opportunities for trade relations between the countries of the Global South.”
