IRAN READY TO HANDOVER CHABAHAR PORT TO INDIAN COMPANY FOR OPERATION

On 8th September, Customs Today reported that Iran will now hand over the strategic Chabahar port to an Indian company within a month for operations as per an interim pact between 2 countries.  India has also introduced a banking channel to ease trade and investment, which has also been approved by Iran’s central bank and reportedly, discussions are underway between UCO Bank and Bank Pasargad for payment mechanism by which US-driven sanctions can be avoided.  Chabahar, the only Iranian port with direct access to the ocean, lies in the Makran coast of south-eastern Iran, located just 76 nautical miles (less than 150km) west of the Pakistani port of Gwadar, being developed by China.

http://www.customstoday.com.pk/iran-ready-to-handover-chabahar-port-to-indian-firm-for-operation/

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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