(Web Desk)The United States has revoked the sanctions waiver for Iran’s Chabahar port, a project India has sought to develop as a vital trade link to Central Asia.
According to the US Department of State, the exemption granted in 2018 under the Iran Freedom and Counter-Proliferation Act (IFCA) for Afghanistan reconstruction and economic development will no longer apply after September 29.
The revocation is part of Washington’s maximum-pressure policy aimed at isolating Tehran.
“Once the revocation is effective, persons who operate the Chabahar Port or engage in other activities described in IFCA may expose themselves to sanctions under IFCA,” the department said in a statement.
The US government’s decision may impact India, which is developing a terminal at the Chabahar port on the Gulf of Oman, according to reports.
On May 13, 2024, Indian Ports Global Limited and the Port & Maritime Organisation of Iran signed the long-term agreement, which replaced an initial 2016 pact.
It covered India’s operations at Shahid Beheshti terminal in Chabahar port and had been renewed annually.
US sanctions on Iran over a suspicion of developing a nuclear programme had slowed down the development of the port, the report added.
