This is a Story Which Really is of Great Importance in Today’s World. It Centres Around the INSTC.

You may have already heard of the INSTC – I have mentioned it several times before, and there is now a new development. The acronym stands for the International North-South Transport Corridor, a plan to facilitate the movement of trading goods from Russian industrial centres in the North, through Azerbaijan, Iran, to ports in India and beyond, to the global south and presumably meshing with the East-West Transport system being built by China’s Belt and Road Initiative (BRI). Trade goods will be moved by road, rail, and sea transport, cutting weeks of transit time from such currently lengthy ocean journeys via the Suez canal. The original plans were to also service Europe, but with that currently benighted group of nations deciding to isolate themselves from the wider world and these new ventures, thus sealing their own fate, that option is no longer envisaged.

Here is how Lena Petrova sees the situation…

For sure, the INSTC transit nations are already as far as possible trading in their own currencies, and they will be joined by many other nations of the Global South already operating within the BRICS+ community or seeking entry to that group, this will greatly reduce their dependence on the US Dollar and its aligned payment systems, which for long have held these nations back from increased prosperity.

The image below, provides a rough comparison between the new and old versions of the core routes this scheme covers.

Such progress can only be facilitated in a peaceful world of multi-polarity – like that world which even now is gradually emerging.

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This is a Story Which Really is of Great Importance in Today’s World. It Centres Around the INSTC.

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