Table of Contents
India's Foreign Minister, Subrahmanyam Jaishankar, has emphasized the benefits of an agreement with Iran to develop the Chabahar port, despite a warning from the US about potential sanctions. The 10-year agreement will allow India to run the strategic port in Iran, promoting trade with landlocked Central Asian nations and Europe. The deepwater port in Sistan-Balochistan province will provide an alternative for trade between Iran, India, and Afghanistan. The US has imposed more than 600 sanctions on Iran and Iranian-affiliated entities, and warned India about the potential risks of business deals with Iran. India will invest about $120 million in the port, with an additional $250 million in financing. The port and the allied road network are considered a rival project to China’s Belt and Road initiative, with New Delhi staging protests over the multi-billion-dollar initiative. The US has viewed India as a partner to contain Chinese influence in the region.
