Chabahar Port: India-Iran Deal & US Sanctions
On May 13, India and Iran formally signed a 10-year agreement for management and development of the strategically located Chabahar Port in southeastern Iran. Until now there has been an annual contract awarded to India Port Global Ltd (IPGL). Indian Minister of Shipping Sarbanand Sonowal travelled to Iran to witness the signing ceremony of this important connectivity initiative which provides access to Afghanistan and Central Asia as well as larger Eurasia and the Caucasus. However, this progress was quickly eclipsed by a sanctions warning from the US.
