ID : N-3159 Date : 2018/10/15 - 15:10
(Persia Digest) - India and Iran have renewed efforts to operationalise one berth at the Chabahar port amid growing fears of US sanctions on Iran kicking in early next month. An Iranian delegation was in Delhi last week and it was decided to redouble efforts to complete the remaining work for the first berth.
The Times of India reports that ources said the project was delayed due to fears of US sanctions and efforts were on to put in place a payment mechanism for the strategically important Chabahar port through banking channels of the two countries.
► Continued oil purchase by India despite Iran sanctions
► India: We will continue to buy Iranian oil
► India defies US sanctions for ties with Iran
India is investing $500 million to develop the port and the road link from Chabahar to Afghanistan, which will allow New Delhi access to Afghanistan via the sea-land route bypassing Pakistan. It has taken more than 15 years for India and Iran to operationalise the port after it was first proposed during Atal Bihari Vajpayee’s tenure.
Click here for more economic news.