India Iran Port Deal: India has got a big diplomatic victory. America has given India an exemption of 6 months from its sanctions imposed on Iran’s Chabahar Port. This port is considered the most important way for India to reach Central Asia.
India Chabahar Port US Sanctions: There is news of a big diplomatic victory for India. America has given India 6 months exemption from its sanctions on Iran’s Chabahar Port. Giving this information, the Ministry of External Affairs (MEA) said that now American sanctions will not be applicable on this port. Only last year, India had signed a big 10-year contract with Iran regarding this port. Under this agreement, India Ports Global Limited (IPGL) had promised to invest approximately $370 million (approximately ₹3,100 crore).
Why is Chabahar Port so important for India?
Chabahar Port is located on the south-eastern coast of Iran and is strategically important for India. This port is located near Pakistan’s Gwadar Port (where China has investments) and gives India access to Afghanistan and Central Asia without going through Pakistan. That is, Chabahar is a part of India’s geopolitical strategy, through which India not only strengthens its business interests but also responds to China-Pakistan’s ‘CPEC’ policy.
Why did America’s stance change?
Talks on a big trade deal have been going on between America and India for the last few months. Meanwhile, India had made it clear that Chabahar is not just a port for it but an issue of national interest. MEA spokesperson said, ‘We are in constant talks with America, so that the ongoing trade agreement between the two countries can be finalized soon. American sanctions on Chabahar will not affect India.
Have already availed the benefit of discount
This is not the first time that America has given such relief to India. In 2018, the Trump administration also gave permission to India to develop Chabahar Port, when heavy sanctions were imposed on Iran in the rest of the world. Even at that time, Washington believed that Chabahar was being used to strengthen stability and trade activities in Afghanistan, which was also in America’s interest.
Increasing international pressure on Iran
Recently the United Nations and America had imposed new sanctions regarding Iran’s nuclear program. Meanwhile, there was confusion regarding India’s Chabahar project whether these sanctions would apply to this investment also. But now America has made it clear that these sanctions will not be applicable on India’s Chabahar deal, which has given a sigh of relief to India.
keep an eye on russia also
The Ministry of External Affairs also said that India is analyzing the new US sanctions imposed on Russian oil companies. ‘We take our decisions keeping in mind the situation of the global energy market. India’s priority is to ensure energy security of 1.4 billion people.
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