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India and Iran Sign Port Deal Despite U.S. Warning About Haste
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06.05.2015
India reached a deal on Wednesday to develop a strategic port in southeast Iran despite U.S. pressure not to rush into any such trade agreements before world powers clinch a final nuclear accord with Tehran.
The Indian government said in a statement,"Indian firms will lease two existing berths at the port and operationalize them as container and multi-purpose cargo terminals," adding that a commercial accord would be needed to implement the pact.
India and Iran agreed in 2003 to develop the port, but the venture has made little progress because of Western sanctions tied to Tehran's disputed atomic program.
The Indian government said in a statement,"Indian firms will lease two existing berths at the port and operationalize them as container and multi-purpose cargo terminals," adding that a commercial accord would be needed to implement the pact.
India and Iran agreed in 2003 to develop the port, but the venture has made little progress because of Western sanctions tied to Tehran's disputed atomic program.
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