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US revokes sanctions waiver on India for key Iran port
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This decision, announced on Tuesday, under the Iran Freedom and Counter-Proliferation Act (IFCA), is a part of Washington's "maximum pressure" campaign against Tehran and it takes effect from September 29.
In 2024, India and Iran signed a deal that allows India to equip and operate the Shahid Beheshti terminal at Chabahar port for the next decade.
The port was conceived as a strategic hub for the International North-South Transport Corridor (INSTC), developed by India, Iran, and Russia as an alternative shipping route to the Suez Canal.
A few days after the February announcement, India pledged continued support for its joint project with Iran at Chabahar Port.
He added that the development of the Chabahar deepwater port is a key example of the two countries' "shared vision for mutual benefit through connectivity."
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'washingtons'
'tehran'
'sanctions'
'chabahar'
'ifca'
'waiver'
'iran'
'revokes'
'maximum'
'india'
'port'
'key']