Iran and Russia have discussed plans to launch a joint shipping company amid international sanctions on both countries and expanding bilateral ties.

Iranian Road Minister Mehrdad Bazrpash, who has travelled to Russia to attend the 26th Saint Petersburg International Economic Forum (SPIEF), urged the launch of a joint shipment company as soon as possible.

In a meeting with Igor Levitin, aide to the President Vladimir Putin, and the governors of the Volga River region the two sides reviewed the capacities of transportation from the Volga and the inland Caspian Sea, IRNA state news agency reported.

Dmitry Azarov, the governor of Russia's Samara, which is one the top ten Russian cities in terms of national income, also proposed creating a river hub in the three ports of Syzran, Tolyatti and Samara port, saying the development of these ports are important for Putin.

CNN reported last month that Tehran is using the Caspian Sea to transfer suspected weapons cargoes to Moscow.

It quoted experts as saying that as cooperation between the two countries deepens, the Caspian Sea route is being used to move drones, ammunition, and mortar shells that the Russian government has purchased from Iran to use in Ukraine.

Last year, shipping analytics company Vortexa also reported that eleven ships that previously carried Iranian crude transported Russian oil and products since April 2022.

“As more companies scale back from carrying Russian crude and products, those familiar with the sanctioned crude trade will continue using their tankers to assist Russia in exporting oil East of Suez,” Armen Azizian, a crude market analyst at Vortexa.