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India To Develop And Operate Chabahar Port Of Iran

TEHRAN: Following signing of a $370 million contract here on Monday (13th May, 2024) with Iran, India is all set to continue developing and operating the Port of Chabahar for next ten years.

According to details the deal was signed between Indian Ports Global Limited (IPGL) and the Port & Maritime Organisation of Iran. It is pertinent to mention here that steering clear of Karachi and Gwadar Ports, Indian goods can reach not only Iran but also Afghanistan and Central Asian Countries, thanks to the development of Chabahar.

Chabahar port exempted from US sanctions

APP Adds: Hours after India signed a 10-year contract to operate Iran’s Chabahar port, the US warned that its sanctions on Tehran remain in place and “anyone” considering business deals with the Islamic Republic needs to be “aware of the potential risk”.

At the same time, the State Department Principal Deputy Spokesperson, Vedant Patel, said that it will let the Indian government speak on its foreign policy goals.

“I will let the government of India speak to its own foreign policy goals vis-à-vis the Chabahar port as well as its own bilateral relationship with Iran,” Patel said in the department’s daily press briefing on Monday.

“We are aware of these reports that Iran and India have signed a deal concerning the Chabahar Port,” Patel said in response to a question.

But, he added, “Any entity, anyone considering business deals with Iran, they need to be aware of the potential risk they are opening themselves up to, potential risk of sanctions.”

Gwadar Chabahar

The agreement for the Long-Term Bilateral Contract regarding the operation of Chabahar Port, Iran’s sole ocean port, was officially executed on Monday between Indian Ports Global Limited (IPGL) from India and the Port & Maritime Organisation (PMO) of Iran.

Patel confirmed that the sanctions imposed by the Washington on Tehran are still in effect and will be upheld, and refused to exempt New Delhi for this deal.

“US sanctions on Iran remain in place and we will continue to enforce them,” he said.

Asked if India was given exemption from the sanctions for this deal, Patel said, “No.”

Newspakistan.tv/APP

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