Once thought to be keen on investing in the strategic Chabahar port development project in Iran, Japan now seems to be hedging its bets.
A person familiar with the developments said Japan was “cautious” about investing because of fresh sanctions imposed by the US on Iran in July for its suspect nuclear energy programme. In October, US President Donald Trump refused to certify that Iran was abiding by the spirit of a 2015 interim agreement between Iran and the international community that saw some sanctions on the Shia country being lifted.
“Japan has to think in terms of US sanctions,” said the person cited above who did not wish to be named.
On Sunday, Iranian President Hassan Rouhani inaugurated the first phase of Chabahar port—known as the Shahid Beheshti port. It is expected to help India and Afghanistan overcome difficulties imposed by Pakistan to trade directly with each other. In October, India sent a consignment of wheat to Afghanistan via Chabahar marking the first use of the facility for moving a shipment to Afghanistan. Read More…
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