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India's Chabahar Port Deal With Iran Makes US Angry
A few hours ago, India’s inked an important Chabahar port deal with sanctioned Iran. The Chabahar port deal will give access to India to operate the Chabahar port for 10 years and the deal will have to renew the once the operating period gets over.
USA has imposed sanctions on Iran for many years because of its nuclear program but no concrete result is there as of now. India is not able to trade with Iran due these sanctions but now it seems that India’s patience is breaking as the sanctions hurt its interests. So ignoring USA’s sanctions and pressure, India cemented this deal with Iran.
Should India Worry about USA Sanctions Over Chabahar Port Deal with Iran?
When a reporter asked the spokesperson, Vedant Patel, of Department of States of USA about the India-Iran Chabahar port deal he said, “We are aware of these reports that Iran and India have signed a deal concerning the Chabahar Port, I would let the government of India speak to its own foreign policy goals, vis-a-vis the Chabahar Port as well as its own bilateral relationship with Iran,” Patel said at a press briefing.
He reiterated that the US sanctions on Iran will remain in place and Washington DC will continue to enforce them. “Any entity, anyone considering business deals with Iran, they need to be aware of the potential risk of sanctions,” Patel, spokesperson said.
Considering the history of sanctions imposed on India by USA in recent times, there is not too much of possibility of India getting sanctioned by USA. It’s because when USA warned India about not to buy Russian oil, India bought it in recording breaking numbers, ignoring USA’s pressure.
India Announces $370 Million Investment for Chabahar Port
The India-Iran Chahbahar port deal is likely to get an investment of $370 million from India of which $120 million will be a direct investment for the development of infrastructure of the Chabahar port and $250 million will be given to Iran as a line of credit.
On Monday, India and Iran signed this 10-year long bilateral deal for the operation of Chabahar port. This agreement is signed between India Port Global Limited (IPGL) and the Ports and Maritime Organization (PMO) of Iran under which India will develop the strategic port for 10 years.
This port possess a very important role in India’s trade plans. Chabahar port is located at a very strategical location from India’s point of view. India can access both Central Asia and Europe thorugh this port. As of now India’s access to Central Asia is hindered by Pakistan and trade with Europe has a long route through Swez Canal. Through Chabahar port, India will cut the distance with Europe and can easily do trade with Central Asian countries.
“The Chabahar Port, located on Iran’s southwestern coast, has easy access to India’s west coast. It also forms a crucial link in the International North-South Transport Corridor (INSTC). The long-term contract will give a significant boost to economic activities and establish our growing role in developing global trade & commerce,” Union Shipping Minister Sarbananda Sonowal post on X.
Conclusion
India-Iran Chabahar Port deal is landmark agreement between the two maritime neighbours. This deal indicates that India considers Iran a crucial partner for its trades to Central Asia and Europe. This decade long bilateral agreement between India and Iran will help India to increase its exports and to cut the transportation cost to Europe. Ignoring the US sanctions and pressure, India signed this deal with Iran shows India’s ruthlessness for its preservation of interests. This is new India who knows how to protect its interests for its citizens.
You can read the official document related to this deal here.
