英露協商
To build the railway the problem of raising enough capital to fund the project was discussed. The Russo-Japanese War of 1905 was one of several factors leaving Russia on a tight budget, preventing Russia from providing funds. The British were solicited as well, but the request could not be granted, pushing back initiation of the railway's construction further. Nikolay Khomyakov, President of the Duma, and I.A. Zveginstov, supporters of the Anglo-Russian Entente, promoted a private initiative for a railway connecting India and Europe, to counteract the economic threat Germany posed to the region. Germany's influence over the region was enabled by the Baghdad Railway, which connected Germany and the Ottoman Empire (modern-day Turkey, Syria and Iraq), enabling Germany to begin plans for connecting the railway to Tehran to increase its commercial enterprise. Despite opposition from the Russian Ministry of Foreign Affairs and Ministry of Finance, there was also support for the project.