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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.

 

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