.jpg)
2 hours ago
3
Article content
(Bloomberg) — India is considering various options regarding its stake in the Chabahar port in Iran, including temporarily divesting from it, ahead of the expiry of a US sanctions waiver in coming days, officials familiar with the matter said.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
New Delhi is holding separate talks with the US and Iran on how to proceed on its $120 million investment in the port, the people said, asking not to be identified because the discussions are private. One of the options is to temporarily transfer the stake to an Iranian entity, one of the officials said. India doesn’t plan to completely exit the port, the person said, since there are plans to expand connectivity at the harbor through a rail link.
Article content
Article content
Article content
Officials had been hopeful that the sanctions waiver, which is due to expire April 26, would be extended, but rising tensions between the US and Iran made that unlikely, the person said. A final decision on the port investment hasn’t yet been made, the officials said.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
India’s Ministry of External Affairs and Ministry of Ports, Shipping and Waterways didn’t immediately respond to requests for further information. Iran’s Embassy in New Delhi also didn’t respond.
Article content
New Delhi signed a 10-year contract with Iran’s Port and Maritime Organization in 2024, seeking to develop Chabahar as an alternative gateway to ship goods to Afghanistan and Central Asia, bypassing rival Pakistan. In 2018, the US gave India a sanctions waiver to operate at the port. That exemption was revoked in September 2025, but after lobbying from New Delhi, a waiver was given until April this year.
Article content
India’s External Affairs Minister Subrahmanyam Jaishankar told lawmakers in February that the country “remains engaged with all concerned in order to address the implications of these developments.
Article content
Article content
Business Standard newspaper earlier reported that India was looking to divest its stake to an Iranian entity.
Article content
New Delhi is seeking to strike a balance between Washington — where ties have come under strain during President Donald Trump’s second term — and longstanding relations with Iran.
Article content
Trump’s war with Iran since February has added a new layer of complexity in US-India relations. Trump has ordered a naval blockade of the Strait of Hormuz to force Tehran to the negotiating table. India is heavily reliant on energy supplies through the strait and has been negotiating separately with Iran to allow its tankers to pass through safely.
Article content
The Chabahar port is a major transportation node for the North-South Transport Corridor, a network of 7200 kilometers connecting Russia and Central Asian countries. India sent over 4 million tons of food aid to Afghanistan through the port since 2018, according to India’s External Affairs Ministry.
Article content
English (US)