Astrakhan, Russia (Ports Europe) December 10, 2024 – The Kremlin continues to divest government shares in Russian corporations transferring them to state-owned companies. The latest example is the transfer of 25.5% of the shares in the Caspian Sea port of Astrakhan to the giant diversified Rostec state corporation producing military equipment.
Interestingly, exactly the same announcement about the share transfer was made in February. Most likely, now the decree for it was officially published. Iran’s Nasim Bahr Kish, sanctioned by the U.S., owns a 53.1% stake in Astrakhan Port (Solyanka port).
25.5% of Astrakhan port given to Russia’s military behemoth Rostec
Iranian shipping company MTU/Nasim Bahr Kish is a subsidiary of Khazar Sea Shipping Lines (KSSL), which in turn is a subsidiary of the Islamic Republic of Iran Shipping Lines (IRISL) that since 2010 owns a controlling stake in the harbour.
The U.S. State Department imposed in May 2023 sanctions on individuals and entities complicit in: sanctions evasion and circumvention; maintaining Russia’s capacity to wage its war of aggression; and supporting Russia’s future energy revenue sources. In the list of sanctioned entities are: KSSL, IRISL, MTU/Nasim Bahr Kish.
The port is an important nod in the Moscow-promoted sanctions-busting International North-South Transport Corridor (INSTC), key in Russia’s strategy to redirect its trade southwards into Asia. It’s also a key entry and exit point for Russia-Iran military cooperation. For two and a half years now it has handled the transport of Iranian drones, munitions and other military equipment for the Russian invasion of Ukraine. Moscow sends back to Teheran advanced military technology…
“Given that the majority shareholder of the Astrakhan port is a subsidiary of the Iranian state company – IRISL, it is advisable for Russia to also attract a state company to develop the asset and expand its capacity,” a government document from February said. “The project provides for the participation of Rostec in the port infrastructure to increase cargo traffic between Russia and Iran and the development of the INSTC.
Astrakhan is a centre of Russia’s Caspian logistics
But Astrakhan and the other Caspian ports, heavily promoted by Moscow propaganda, handled in 2023 the microscopic 0.89% of the total cargo processed by all Russian harbours! In the first 10 months of 2024, they handled 0.93% (3.3 million tonnes of cargo or 4.2% more than in the January-October 2023 period).
Russia’s Astrakhan ports cargo keeps growing from a small base
Rostec is involved in the production of weapons and military equipment, information technology and telecommunications, radio electronics, machine tool industry, composite and other modern structural materials, optics, aircraft industry, metallurgy…
The Astrakhan port is at the mouth of the Volga River. It has 14 cargo terminals and a capacity of 12 million tonnes.
More PortSEurope news about Astrakhan ports
Copyright (C) Ports Europe. All Rights Reserved. 2024.
