Abstract. The history of the International North–South Transportation Corridor (INSTC) as well as its current formation has been analyzed through the prism of identifying Russian strategic interests and goals both in the Caspian region and in Eurasia as a whole. A hypothetical possibility of turning the INSTC into an alternative to the Suez Canal has been considered; the potential of other transport logistic projects (TRACECA, “Belt and Road Initiative”, etc.) has been correlated with the INSTC. Main directions of the INSTC routes have been examined taking Russia’s interests into account. In this context attention is paid to development of Russia’s southern regions and its Caspian seaports in the framework of the INSTC. Russia’s interaction with Iran and India, which are key participants of the INSTC, is taken into account. The prospects for the implementation of this project are identified also in terms of promoting the Eurasian integration process.