Business
US revokes sanctions waiver on Iran’s Chabahar Port
The United States has decided to revoke the sanctions waiver for Iran’s Chabahar Port, effective September 29, exposing individuals involved in its operations to penalties under the Iran Freedom and Counter-Proliferation Act (IFCA), the State Department announced.
The waiver, granted in 2018, had allowed India to develop the port despite U.S. sanctions on Tehran. India considers Chabahar a key project for regional trade and connectivity, and in May signed a 10-year agreement with Iran, offering $250 million in credit for infrastructure development.
The U.S. move aligns with its “maximum pressure” policy against Iran and could complicate India’s expansion plans, which include boosting port capacity and building a 700-km rail link to Zahedan.
The port also emerged as a vital gateway for India’s regional outreach and humanitarian efforts in the past. In 2023, it was used to send 20,000 tonnes of wheat aid to Afghanistan.