United States imposes toughest ever sanctions on Iran

On November 5, the United States imposed the toughest ever sanctions on Iran aimed at altering the Iranian regime’s “behaviour”. The sanctions cover Iran’s banking and energy sectors and reinstate penalties for countries and companies in Europe, Asia and elsewhere that do not halt Iranian oil imports. However, 8 countries – India, China, Italy, Greece, Japan, South Korea, Taiwan and Turkey — were temporarily allowed to continue buying Iranian oil as they showed “significant reduction” in oil purchase from the Persian Gulf country. The United States has exempted India from imposition of certain sanctions for the development of the strategically-located Chabahar Port in Iran, along with the construction of the railway line connecting it with Afghanistan. The decision by the Trump administration is being seen as a recognition by Washington of India’s major role in the development of the port on the Gulf of Oman, which is of immense strategic importance for the reconstruction of war-torn Afghanistan. The Chabahar Port is considered a gateway to golden opportunities for trade by India, Iran and Afghanistan with central Asian countries besides ramping up trade among the three countries after Pakistan denied transit access to India.

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