8.9 C
Shanghai
Wednesday, April 1, 2020
Home News U.S. sanctions create trade cooperation opportunities

U.S. sanctions create trade cooperation opportunities

Outgoing Indian ambassador to Tehran and the head of Tehran Chamber of Commerce, Industries, Mines and Agriculture have discussed ways of continuing Iran-India trade under reimposed U.S. sanctions, Eghtesad online news website reported on Saturday (November 17).

During the meeting, the Indian diplomat Saurabh Kumar and the Iranian official Masoud Khansari reviewed the ways to continue trade relations during sanctions.

After U.S. President Donald Trump’s withdrawal from Iran’s nuclear deal in May, the U.S. has reimposed the stringent sanctions on Iran, including embargoes on Iran’s banking and oil sectors.

The U.S. sanctions may present a new window of opportunity for Iran-India ties, Khansari said, adding that the focus of mechanisms to facilitate cooperation between Iran and India should be laid on banking and financial cooperation.

He also highlighted the role of Iranian Chabahar Port in developing close cooperation with India, adding “now that the port has been exempted from U.S. sanctions, the two sides must capitalize on this opportunity.”

“Sanctions create many problems, but they have also created this opportunity for us to tap into neglected capabilities and capacities,” he was quoted as saying.

Read more on Xinhua.

 

- Advertisment -your ad here

Latest Posts

Kalmar to equip terminals in Mexico and Panama

Kalmar has signed two separate orders with SSA Marine to supply a total of 36 Kalmar Ottawa T2 terminal tractors. The first agreement for 12...

Hapag-Lloyd adds void sailings due to the coronavirus

Hapag-Lloyd has announced that additional measures are being implemented on the IG1 service as a result of the low demand due to the current...

MABUX bunker index – 1 April

Oil companies are telling investors that they will cut spending in what the UK newspaper The Guardian calls “the most brutal oil market rout...

CEVA supports COVID-19 pandemic fight

CEVA Logistics says it has delivered significant additional volumes on behalf of numerous customers around the world to help its customers through the Covid-19...

Hapag-Lloyd announces new rates in key regions

Hapag-Lloyd has announced an increase in the ocean tariff rate for all cargoes in 20’ and 40’, including High Cube, containers on the Eastbound...