India concludes Agreement with Iran on Chabahar Port India's Foreign Minister, S Jaishankar highlighted the broader regional benefits of its recently inked ten year port agreement with Iran ignoring words of caution from the United States which may result in invocation of sanctions against India. The Indian Foreign Minister in defence of the agreement called
US Congressional Research Service US sanctions on Iran already ban most U.S trade , block Iran government's assets in the U.S. and prohibit U.S. foreign assistance and arms sales as per the Congressional Research Service . A large number of people and companies Iranian as well as foreign have been the subject of sanctions .
Political Strife & Maritime Sector Development Oil exports ,predominantly from Iraq's ports, is its economic lifeline and the main contributor to GDP. Even in times of political strife Iraq has remained focused on maritime sector development .The state owned General Company for Ports Of Iraq was established in 1919 and consistently undertakes port development and
Iranian Port of Chabahar exempted from US from sanctions The motive behind exempting the Iranian Port of Chabahar from sanctions by the US is attributed to its desire to bolster its ally India. Ostensibly the rationale espoused is that the Afghan economy being a continuous drain on international assistance requires a trading route through Iran.
Roots of Muslim Maritime Trade The history of transregional trade in the Indian Ocean is reflective of a vibrant trade from around the 1st century AD . With the expansion of Islam into India, East Africa and Southeast Asia the Indian Ocean began to cohere as a unified global economy and subsequently bound up in
UAE no longer attractive Investment Hub for " Hot money " Financial Action Task Force (FATF) , a Paris-based global watchdog , has categorised UAE on the FATF 'gray list' endangering its position as a regional financial centre . Now transactions and commercial trade in the seven Emirates of the United Arab Emirates will be
The global economy is witnessing with alacrity the threat hurled by the United States of America to impose tariff on potential imports from China of goods valuing around USD 60 billion, ostensibly on the grounds that it violated sanctions imposed on Iran and North Korea. The trade tussle between these two global economies was simmering
Where has the US Commercial Shipping Industry disappeared The US Navy and US Maritime Administration will have to justify why it is so prolific in spending on naval ships rather then building US merchant navy fleet. What is really being protected by the US Navy needs an in depth study. Is the US Navy protecting
UNCLOS and Rights of Coastal States The United Nations Convention on the Law of the Sea (UNCLOS) grants special rights to the coastal states with regards to exploration and use of marine resources including energy production ,in the area in its jurisdiction at times termed as exclusive economic zone (EEZ) . Economic Control of Waters
Women and IMO Support Credit UN News Maritime and shipping has historically been a male dominated industry . The International Maritime Organization (IMO) discovered that women represent only 1-2 % of the world’s 1.25 million seafarers and they mostly work in cruise ships. The mission of a merchant ship is to carry cargo from one
