India Abroad

Iran Slams India For Delay In Investments For 'Strategic' Chabahar Port

| July 11 , 2018 , 10:52 IST

Iran, which has been facing sanctions from the US after the US withdrew from the Iran Nuclear Deal, on Tuesday slammed India for not fulfilling its investment commitments for the strategic Chabahar port connecting India, Iran and Afghanistan.  

Iran's Deputy Ambassador and Charge d'Affaires Massoud Rezvanian Rahaghi speaking at a seminar on 'emerging challenges and opportunities in the global diplomacy and its impact on bilateral ties with India' termed it as 'unfortunate' that India had not completed its investment promises.

"It is unfortunate that Indian investment promises for expansion of Chabahar port and its connectivity projects have not been accomplished so far. It is expected that India takes immediate necessary measures in this regard if its cooperation and engagement in Chabahar port is of strategic nature," he said.

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India, Iran and Afghanistan in May 2016 had inked a pact regarding the establishment of a Transit and Transport Corridor among the 3 nations using Chabahar Port as one of the regional hubs for sea transportation in Iran. The Chabahar port is also being considered as a golden opportunity for trade by India, Iran and Afghanistan with central Asian countries.

Apart from the Chabahar Port, Iran also cautioned India on replacing Iran as a source for oil with other nations.

"If India were to replace Iran with countries like Saudi Arabia, Russia, Iraq, the US and others for the 10 per cent of its oil demand then it may have to revert to dollar-denominated imports which mean higher CAD (Current Account Deficit) and deprivation of all other privileges Iran has offered to India," Rahaghi said.

Meanwhile, the US has warned India and other nations to cut oil imports from Iran to 'zero' by November 4 or face sanctions from the US.