India Considers Temporary Transfer of Chabahar Port Shares to Iran Amid US Sanctions
An Indian media outlet has reported that the Indian government intends to transfer its shares in the Chabahar Port Development Company to an Iranian firm following the end of the United States’ sanction exemption. The move is aimed at managing the repercussions of US sanctions.
According to the report by Business Standard, which was reflected by Mehr News Agency, New Delhi is considering selling its stake in the Chabahar Port development project. This decision comes after the previous sanction exemption for activities related to this port was not extended.
The report also mentions that Indian officials are exploring a temporary option in which an Iranian operator would take operational control of the port during the sanctions period, with management potentially reverting back to the Indian side once the restrictions are lifted.
The Chabahar port development contract was signed in 2016 during Indian Prime Minister Narendra Modi’s visit to Iran. India views its investment in the port as part of a broader plan to strengthen the International North-South Transport Corridor, a route intended to facilitate India’s access to markets in Central Asia and Russia. Due to its strategic location along the coast of the Gulf of Oman, Chabahar port holds significant importance in regional transit dynamics.
