India has secured an extension for the sanction waiver till the early part of next year on the Chabahar Port that is critical to New Delhi's regional connectivity plan by serving as a gateway to Afghanistan and Central Asia-Eastern Russia.
The US sanctions waiver expired on Tuesday and India has been able to secure the extension from the US till early part of the next year, ET has reliably learnt. Intense negotiations were held on the matter as India argued on the requirement for effectiveness of the Chabahar Port as part of its regional connectivity plan.
ET was the first to report that New Delhi was engaged in securing an extension on the sanctions waiver and that the matter was under consideration. ET had earlier reported that India was able to get a US sanctions waiver on the port till October 28. The US had earlier set a deadline of September 29 for revocation of sanctions waiver for the port.
On May 13, 2024, India signed a 10-year contract to operate the Chabahar port. The long-term agreement was signed between Indian Ports Global Limited and Iran's Port & Maritime Organisation. The Chabahar Port is critical for expanding India-Afghanistan economic partnership and supply of humanitarian aid, including ambulances that New Delhi gifted during the Afghan foreign minister's visit here earlier this month. The Taliban regime is also keen on effective utilisation of the Chabahar Port for its global outreach.
There are plans to connect Chabahar Port with the International North-South Transport Corridor and Central Asian states. India's Central Asian partner Uzbekistan, guided by the principle of multipolarity, does not want to depend on a single connectivity corridor in Eurasia (read China's Belt and Road Initiative) and is hoping that New Delhi will be working to address concerns over the Chabahar Port, according to sources, who did not wish to be identified. Uzbekistan is the world's second doubly landlocked country, the other being Liechtenstein.
It has also been learnt that Russia is seeking to use the Chabahar Port via Kazakhstan and Uzbekistan to trade with India and various parts of Asia.
The US sanctions waiver expired on Tuesday and India has been able to secure the extension from the US till early part of the next year, ET has reliably learnt. Intense negotiations were held on the matter as India argued on the requirement for effectiveness of the Chabahar Port as part of its regional connectivity plan.
ET was the first to report that New Delhi was engaged in securing an extension on the sanctions waiver and that the matter was under consideration. ET had earlier reported that India was able to get a US sanctions waiver on the port till October 28. The US had earlier set a deadline of September 29 for revocation of sanctions waiver for the port.
On May 13, 2024, India signed a 10-year contract to operate the Chabahar port. The long-term agreement was signed between Indian Ports Global Limited and Iran's Port & Maritime Organisation. The Chabahar Port is critical for expanding India-Afghanistan economic partnership and supply of humanitarian aid, including ambulances that New Delhi gifted during the Afghan foreign minister's visit here earlier this month. The Taliban regime is also keen on effective utilisation of the Chabahar Port for its global outreach.
There are plans to connect Chabahar Port with the International North-South Transport Corridor and Central Asian states. India's Central Asian partner Uzbekistan, guided by the principle of multipolarity, does not want to depend on a single connectivity corridor in Eurasia (read China's Belt and Road Initiative) and is hoping that New Delhi will be working to address concerns over the Chabahar Port, according to sources, who did not wish to be identified. Uzbekistan is the world's second doubly landlocked country, the other being Liechtenstein.
It has also been learnt that Russia is seeking to use the Chabahar Port via Kazakhstan and Uzbekistan to trade with India and various parts of Asia.
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