Iran’s economy faces prolonged pressure if disruptions in the Strait of Hormuz continue, prompting Tehran to look northward toward Russia for economic cooperation. Iranian Foreign Minister Abbas Araghchi recently met Russian President Vladimir Putin in St. Petersburg, praising Moscow’s support and discussing the Hormuz situation and sanctions. Bilateral trade reached about 4.8 billion dollars in 2024, a 16 percent increase since 2018, mainly involving grain, metals, machinery, and fertilizers, though economists note the relationship remains limited.

The two countries are connected through the International North–South Transport Corridor, linking Russia to Asia via Iran and the Caspian Sea. Experts say this route offers partial relief but cannot replace the scale and speed of maritime trade through Hormuz. Nearly 90 percent of Iran’s trade depends on sea routes, making a full shift to land transport costly and inefficient.

Analysts believe Russia can provide short-term assistance but is unlikely to become a full economic lifeline for Iran due to its own sanctions and war-related pressures.