India-Middle East-Europe Economic Corridor will benefit Russia develop logistics, says Russian President Vladimir Putin

Russian President Vladimir Putin today said that the India-Middle East-Europe Economic Corridor (IMEC) will benefit Russia. The Russian President said that the IMEC would help his country develop logistics and the project had been under discussion for several years.

Speaking at the 8th Eastern Economic Forum in the Russian port town of Vladivostok, Putin said, this project will benefit Russia and the US jumped on this train at the last moment. He further said that for the US, he doesn’t see much point in being in this project. His remarks came after India, the US, UAE, Saudi Arabia, France, Germany, Italy and the European Union on the sidelines of the G20 Summit in New Delhi on Saturday signed a Memorandum of Understanding (MoU) to establish the India-Middle East-Europe Economic Corridor.