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India appreciates US waiver regarding Iran sanctions

IANS  |  New Delhi 

on Friday expressed its appreciation to the US for waiving it from Washington's sanctions on Iran's imports and development of the crucial port.

"We have seen the US notification including in the list of countries granted significant reduction exemption for continued purchase of Iranian without attracting US sanctions," said.

"We appreciate that the has taken into account our need for and understood our sensitivities on this matter," he said. "We welcome this. We are now examining the details of the exemption."

US announced on Monday that was exempting and seven other countries from the sanctions on importing from

There had been concerns in following the fresh US sanctions on Iran, which came into effect on November 5, as is a major supplier of to India.

The US pulled out of the Joint Comprehensive Plan of Action (JCPOA) that signed with the five permanent members (P5) of the UN Security Council, and the and imposed the new sanctions on over its alleged nuclear programme.

On Friday, the also said that had taken note of the exception provided by of the port on the southeastern coast of that is being jointly developed by India, and Iran.

"We have taken note of the US statement that exception has been provided under the Iran Freedom and Counter Proliferation Act of 2012 with respect to development of Port and the construction of an associated railway line," Kumar said.

"We appreciate that the US recognized the role which this port will play to bring strategic and long-term benefits to as well as enhance Afghanistan's connectivity with the outside world."

India is investing $500 million to develop the Chabahar port and a road link from there to to give access to that country by bypassing



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 09 2018. 17:10 IST