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Iran says Chabahar port crucial for ‘completion’ of INSTC


https://sputniknews.com/20221124/iran-claims-chabahar-port-crucial-for-completion-of-instc-1104658995.html

Iran says Chabahar port crucial for ‘completion’ of INSTC

Iran says Chabahar port crucial for ‘completion’ of INSTC

Indian investments in Chabahar were affected after the United States unilaterally left the Iran nuclear deal in 2018 and reimposed economic sanctions on Tehran. 24.11.2022, Sputnik International

2022-11-24T14:14+0000

2022-11-24T14:14+0000

2022-11-24T14:15+0000

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international north-south transport corridor (instc)

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Iranian Deputy Foreign Minister Ali Bagheri Kani said the development of Chabahar Port is important for the completion of the International North-South Transit Corridor (INSTC). between India and Russia via Iran, Azerbaijan and Central Asian states. The importance of INSTC in boosting regional connectivity and improving Indo-Russian bilateral trade also figured in discussions between Prime Minister Narendra Modi and President Vladimir Putin at an annual summit last December. . Kani also briefed the Indian side on the progress of negotiations on the Joint Comprehensive Plan of Action (JCPOA), or Iran nuclear deal, between Tehran and Russia, the United States, France, China, Iran. United Kingdom and Germany.New Delhi and Tehran have jointly developed the Shahid Beheshti terminal in Chabahar since 2016, when Prime Minister Narendra Modi earmarked $500 million for port development during a visit to Tehran. India’s investment in Chabahar was exempt from Washington sanctions. However, many Indian companies have been prevented from completing it for fear of ‘secondary penalties’. Moreover, Indian companies stopped importing crude from Iran in 2019 amid such fears, despite Tehran having previously been one of Delhi’s biggest energy suppliers. With the Biden administration indicating Washington’s willingness to renegotiate the JCPOA, Delhi has once again stepped up its engagement with Tehran on developing the Chabahar port. India has in principle supported the reinstatement of the JCPOA since the start of negotiations last year.

https://sputniknews.com/20220731/indias-vision-is-to-connect-irans-chabahar-port-to-instc-shipping-minister-sonowal-says-1097976067.html

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Indian investments in Chabahar were affected after the United States unilaterally left the Iran nuclear deal in 2018 and reimposed economic sanctions on Tehran.

Iranian Deputy Foreign Minister Ali Bagheri Kani said the development of Chabahar port is important for the completion of the International North-South Transit Corridor (INSTC).

The INSTC is a multimodal network of 7,200 kilometers of road, rail and maritime routes aimed at facilitating trade between India and Russia via Iran, Azerbaijan and Central Asian states. The importance of INSTC in boosting regional connectivity and boosting Indo-Russian bilateral trade also figured in discussions between Prime Minister Narendra Modi and President Vladimir Putin at an annual summit last December.

An Indian Foreign Ministry report on a meeting between Iranian Kani and Indian Foreign Minister Vinay Mohan Kwatra in Delhi on Friday said the two countries reaffirmed their commitment to continue cooperation on Chabahar Port development. .

Kani also briefed the Indian side on the progress of negotiations on the Joint Comprehensive Plan of Action (JCPOA), or Iran nuclear deal, between Tehran and Russia, the United States, France, China, Iran. UK and Germany.

India’s ‘vision’ is to connect Iran’s Chabahar port to INSTC, says Transport Minister Sonowal

New Delhi and Tehran have been jointly developing the Shahid Beheshti terminal in Chabahar since 2016, when Prime Minister Narendra Modi earmarked $500 million for port development during a visit to Tehran.

India’s investment in Chabahar was exempt from Washington sanctions. However, many Indian companies have been prevented from completing it for fear of ‘secondary penalties’. Moreover, Indian companies stopped importing crude from Iran in 2019 amid such fears, despite Tehran having previously been one of Delhi’s biggest energy suppliers.

With the Biden administration indicating Washington’s willingness to renegotiate the JCPOA, Delhi has again stepped up its engagement with Tehran to develop Chabahar port.

However, officials said the arbitration clause for settling a potential dispute that may arise in related contracts has become a sticking point in negotiations. While New Delhi supports any potential dispute brought before competent international courts, Tehran has proposed that it be settled under Iranian law by local courts.

India has in principle supported the reinstatement of the JCPOA since the start of negotiations on it last year.



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