The Ministry of External Affairs (MEA) affirmed on Thursday that the United States has given India a six-month waiver on its sanctions on the Chabahar Port of Iran. The decision will allow India to remain a part of the strategically significant project that has a significant role in improving trade and connectivity in the region.
According to Randhir Jaiswal, a spokesperson of MEA, the US has offered India a six-month exemption to American sanctions on Chabahar port. The waiver highlights the fact that Washington understands the importance of the port in enhancing economic growth and stability in Afghanistan and Central Asia, whereby India has always aspired to build a greater presence.
The Chabahar Port is located in southeastern Iran and gives India a crucial connection to the sea in order to reach Afghanistan and the Central Asian markets by avoiding Pakistan. It has been part and parcel of the regional connectivity plan in India especially in the International North-South Transport Corridor (INSTC) that has sought to enhance the trade corridors between India, Iran, Russia and Europe.
The project is a project that is developed by India and Iran and consists of the operation of the Shahid Beheshti terminal by India Ports Global Limited(IPGL). Shipment of important commodities like wheat and fertilisers to other neighbouring countries, including Afghanistan, has already been made possible through the port.
The most recent exemption happens in the face of continuing geopolitical disputes over the Iranian nuclear program and US sanctions. Analysts reckon that the waiver is indicative of a well-crafted policy of the Washington administration, as it reconciled its sanctions policy with the fact that India is rapidly emerging as a strategic and economic powerhouse in the region.
In the case of India, the decision to keep Chabahar Port operational will go hand in hand with its overall goal of enhancing the regional connectivity and resiliency of trade. The extension also enables India to preserve its strategic presence in the region, which would facilitate its long-term perspective of becoming a hub in the Eurasian networks of trade.
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