Iranian President Ebrahim Raisi and his Russian counterpart Vladimir Putin, in a phone conversation on Monday, explored ways for further enhancement of economic cooperation between the two neighboring countries.

The two presidents reportedly stressed the need for further cooperation on international transit.

This is the third phone conversation between the presidents of Iran and Russia over the past few months.

Referring to today’s conversation between President Raisi and President Putin, Russia’s Tass news agency said that Iran, Russia and India reached an agreement in 2000 on developing a strategically-important International North-South Transit Corridor (INSTC) to link India to Russia via the Iranian soil which it believed would halve the standard transit route between the two countries.