ISLAMABAD (Kashmir English): In a significant development, India has said that it has no further financial commitments towards the Chabahar Port project in Iran, following the fulfillment of its earlier obligations.
In a written reply to a lawmaker in the Indian Parliament, Minister of State for External Affairs of India Kirti Vardhan Singh informed that India Ports Global Limited (IPGL) had signed a ten-year contract on May 13, 2024, with Iran’s Ports and Maritime Organisation for the operation and equipment of the Shahid Beheshti Terminal at Chabahar Port.
He stated that India has already completed its financial commitment of $120 million for port equipment under the agreement, and therefore, there is no further financial commitment from the Government of India towards the port.
Breaking: India says it has no further financial commitments to Chabahar Port in Iran pic.twitter.com/RdvVeDN7DB
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The minister further revealed that evolving United States Department of State sanctions have impacted the project environment. The US had revoked a sanctions exemption in September 2025 that was originally granted for Afghanistan’s economic development under the Iran Freedom and Counter Proliferation Act of 2012.
However, after discussions, a conditional sanctions waiver has been extended until April 26, 2026, allowing limited continuation of activities.
India, the minister said, remains engaged with relevant stakeholders to manage the implications of these developments and safeguard its strategic and commercial interests.
