Relief for India: Chabahar Port gets US waiver

After the temporary oil waiver, the US has now exempted India from certain sanctions regarding the development of Chabahar Port in Iran and the railway line connecting  Afghanistan to Iran- International North-South Trade Corridor (INSTC).

“After extensive consideration, the Secretary has provided for an exception from the imposition of certain sanctions under the Iran Freedom and Counter-Proliferation Act of 2012 (IFCA) with respect to the development of Chabahar Port and the construction of an associated railway and for the shipment of non-sanctionable goods through the Port for Afghanistan’s use, as well as Afghanistan’s continued imports of Iranian petroleum products,” PTI quotes US State Department spokesperson.

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Chabahar and International North-South Trade Corridor (INSTC) are important strategic projects for India and Afghanistan.

In 2003, New Delhi signed a deal with Tehran to renew the Chabahar port project. In May 2016 India, Iran and Afghanistan signed a pact to foster a transit and transport corridor among the three countries with Chabahar port serving a the hub.

Chabahar is considered as India’s counter to Pakistan’s Gwadar port. It will give India and the other allies access to Kabul while keeping Islamabad out of the equation.

This sanction is seen as a huge victory for India, especially after the US exempting India and 7 other countries from oil sanctions against Iran.

 

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