US sanctions on major Indian port project in Iran take effect
US sanctions on a major Indian port project in Iran's Chabahar took effect on Monday, a day after UN sanctions on Tehran were reinstated under the snapback mechanism.
The sanctions target Chabahar Port in southeastern Iran, and were announced earlier, with State Department spokesman Tommy Pigott confirming the exemption ended effective September 29.
The port had previously been exempted from US sanctions to support regional development and trade routes to Afghanistan bypassing Pakistan.
AFP reported that under US law, companies including state-run India Ports Global Limited will have 45 days to exit Chabahar or risk having any US-based assets frozen and US transactions barred.
