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“Article IV.—The German government once more declares that it has no political interests in Persia, and that it is only pursuing commercial aims there. It recognizes, on the other hand, that Russia has special interests in northern Persia, from a political, strategic, and economical point of view.

“The German government also declares that it has no intention of seeking, for its own profit, or of supporting in any way, either for its own subjects or for those of other nations, any concessions for railways, roads, steamship routes, telegraphs, or other concessions of a territorial nature to the north of the line beginning at Kasrihin, crossing Ispahan, Jezd, and Khakh, and ending at the Afghan frontier at the latitude of Ghasik. If the German government seeks such concessions, it must first of all come to an agreement with the Russian government.

“On the other hand, the Russian government will consent to recognize, with regard to German trade in Persia, the principle of absolute equality of treatment.”