United States Discontinues Exception for India's Management of Chabahar Port
The United States has revoked the sanctions waiver for Iran's Chabahar port, a move that could potentially impact India's operations at the strategic port. The waiver, which was granted under the Iran Freedom and Counter-Proliferation Act (IFCA) in 2018, was aimed at facilitating Afghanistan's reconstruction and economic development.
The revocation of the waiver, effective from September 29, comes as part of the US's maximum-pressure policy against Iran. This policy has also led to the revocation of the sanctions waiver for Chabahar port, a decision that could have far-reaching implications for India's plans to develop the port as a vital trade link to Central Asia.
In May 2024, India Ports Global Limited (IPGL) signed a long-term pact with the Port & Maritime Organisation of Iran for the development of the Shahid Beheshti terminal at the Chabahar port. This agreement replaced an earlier pact signed in 2016. The agreement covered India's operations at the Shahid Beheshti terminal in Chabahar port.
The development of the Chabahar port has been affected by US sanctions due to suspicions over Iran's nuclear program. The US government has stated that persons operating the Chabahar Port or engaging in activities described in IFCA may be exposed to sanctions under IFCA.
The Chabahar port project is a vital trade link for India to Central Asia. The long-term agreement signed by IPGL in May 2024 was a significant step towards strengthening this link. However, the annual renewal of the agreement has been discontinued, adding uncertainty to India's long-term plans for the port.
The revocation of the sanctions waiver for Chabahar port is a significant development in the complex geopolitical landscape of the region. It remains to be seen how India will navigate this challenge and continue its efforts to develop the Chabahar port as a vital trade link to Central Asia.
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