India confirms Chabahar Port is exempted from US sanctions for six months

Ministry of External Affairs (MEA) spokesperson Randhi Jaiswal said, "Yes, I can confirm that we have been granted exemption for a six-month period on the American sanctions that were applicable on Chababar."

Eyeing an expansion of trade, India entered into a 10-year deal with Iran on Chabahar Port, which is located in the southeastern coast of Iran along the Gulf of Oman.

Earlier, a pact between India and Iran was signed in 2016 during Prime Minister Narendra Modi's visit to Tehran.

On a possible trade deal with the US, the MEA spokesperson said, "We continue to remain engaged with the US side on finalising the trade deal. Both sides are continuing to hold discussions. For any further update, I would refer you to the Ministry of Commerce."

Earlier this week, Trump heaped praises on Prime Minister Narendra Modi providing an update on the presumably incoming bilateral trade deal. amid the ongoing tariff war.

Trump said the US and India are going to ink a trade deal and praised Modi calling him the "nicest looking guy".

Despite India's repeated rejection, the US President reiterated he used trade as an incentive to stop the India-Pakistan military conflict earlier this year.

The President said, "I'm doing a trade deal with India, and I have great respect and love for Prime Minister Modi. We have a great relationship. Likewise, the Prime Minister of Pakistan is a great guy. They have a Field Marshal. You know why he's a Field Marshal? He's a great fighter. And so I know them all. I'm reading that seven planes were shot down. These are two nuclear nations. And they're really going at it.

"And I called Prime Minister Modi and said, we can't make a trade deal with you. 'No, no, we must make a trade deal'. I said, 'no, we can't'. You're starting a war with Pakistan. We're not going to do it. And then I called Pakistan and said, we're not going to do trade with you because you're fighting with India. They said, no, no, you should let us fight. They both said that. They're strong people."

"Prime Minister Modi is the nicest-looking guy. He's a killer. He's tough as hell. No, we will fight. I said, Whoa, this is the same man that I know. After literally two days, they called up and they said, we understand, and they stopped fighting. How is that? Isn't that amazing? Now, you think Biden would have done that? I don't think so..."

The Trump administration, which was earlier viewed as India-friendly, has slapped a 25 percent tariff on the South Asian country for its high tariffs on American exports and another 25 percent for purchasing oil from Russia, which is fighting a war against Ukraine.

Since the conflict in Ukraine began in early 2022, India significantly increased its imports of discounted Russian crude oil—now comprising over 30 percent of its total crude imports.

Indian refineries then export refined petroleum products globally, which critics, especially in the U.S., argue indirectly supports Russia’s war effort by funneling money into its economy.

In response, the US proposed tariffs and trade measures targeting India’s exports to discourage this behavior.

India said that, like any major economy, it will take all necessary measures to safeguard its national interests and economic security.

Modi unequivocally said India won't compromise on the interests of farmers, fishermen and livestock rearers.