Shape of sanctions: on U.S. waiver on Chabahar port

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Shape of sanctions: on U.S. waiver on Chabahar port

The U.S. waiver on Chabahar and on oil purchases from Iran brings relief, temporarily
The U.S. administration’s (प्रशासन) decision to grant India and seven other countries waivers(छूट) on the sanctions(मंजुर/प्रतिबंधों) it re-imposed(अधिरोपित) on Iran provides(प्रदान करना/मुहैया करना) some temporary relief to India. While the details of the waivers are yet to be released, the Trump administration has agreed to waive sanctions on the purchase(खऱीदना/प्राप्त करना) of oil from Iran for about six months, which would help the Modi government tide(क़ाबू पा जाना/जीत पाना) over until the general elections, without any major oil price shocks. The waivers announced(घोषणा करना/सूचना देना) cover Indian investment in Iran’s Chabahar port and the plan to build a railway line from Chabahar to Afghanistan to facilitate(सुविधा) trade(व्यापार ). The waivers are welcome also as they indicate(प्रकट करना/सूचित करना) that despite( बावजूद) all the harsh(कड़ा/कठोर )rhetoric(बयानबाजी/शब्दाडंबरपूर्ण) on “choking( अवरोध/चकित करना) Iran”, the U.S. may have had a rethink( पुनर्विचार ) on its sanctions, and the costs incurred (उठाया हुआ/किया गया) in pushing around allies(सहयोगी दलों/मित्र-राष्ट्र) and partners such as India, Japan and South Korea to “zero out” oil purchases. This conclusion(निष्कर्ष) stems from the fact that both India and China, Iran’s two biggest oil importers(आयातकों), have been extended(विस्तारित) waivers. This flexibility(लचीलापन) could be a sign that the U.S. is leaving space for leeway in resuming talks with Iran in the long term.

However, the fact that the waivers are temporary, and contingent(आकस्मिक/श्रेणी) on further(और भी/आगे) reductions(कटौती/कमी)in oil trade with Iran, means that for now India will need to continue to find alternatives(विकल्प) to its offtake(कुल खरीद/निकासी) from Iran. The alternative rupee-rial mechanism, which was operationalised(संचालित) in 2012 during (दौरान/की अवधि में) the last round of sanctions, depends on increasing(बढ़ाना) Iranian demand for Indian goods to balance India’s annual purchases of about $10 billion, which hasn’t fructified(चुका) yet. The European Union, Russia and China have also been working on a “special payment mechanism” to circumvent sanctions. But they have yet to launch it, limiting India’s options. Moreover, despite the waivers from the U.S., India will still face the impact(प्रभाव) of the U.S. sanctions, both on oil and on its investment in Chabahar, as very few international companies may be willing to undertake contracts. Above all, by seeking the waivers, instead of sticking(लिपटना/चिपटनेवाला) to its earlier line that it accepted only UN and not “unilateral(एकतरफा/एकपक्षीय)” sanctions, India has lost its moral leverage. Unlike China, it chose to reduce its oil intake from Iran, and entered into negotiations(वार्ता/बातचीत) for alternative fuel supplies from Iran’s rivals in the Gulf. This could, in turn, impact Delhi-Tehran ties in the long run. Meanwhile, India will have to keep engaging(चित्ताकर्षक/मनोहर) the U.S. in order to secure further waivers, both in this case and for CAATSA-related U.S. sanctions on Iran, Russia and North Korea. As a result, by securing the waiver the government has not exactly(बिल्कुल) dodged (बचना)the figurative bullet, but merely outpaced it. It will need to keep outrunning that bullet for the foreseeable(निकट ) future.

 

Important Vocabulary

1.Waivers(छूट
Synonyms: postponement, remission, abandonment, abdication, disclaimer
Antonyms: allowance, approval, sanction, accept, claim

2.Purchase(खऱीदना/प्राप्त करना)
Synonyms: acquisition, asset, investment, acquirement, bargain
Antonyms: sale, sell

3.Tide(क़ाबू पा जाना/जीत पाना)
Synonyms: flood, spate, stream, tendency, torrent

4.Provides(प्रदान करना/मुहैया करना)
Synonyms: add, administer, afford, arrange, bring
Antonyms: conceal, condemn, consume, deny, disapprove

5.Facilitate(सुविधा)
Synonyms: aid, ease, expedite, further, help
Antonyms: block, cease, check, delay, halt

6.Choking( अवरोध/चकित करना)
Synonyms: clog, congest, drown, fill, gag
Antonyms: free, let go, loose, advance, aid

7.Indicate(प्रकट करना/सूचित करना)
Synonyms: announce, argue, demonstrate, express, hint
Antonyms: conceal, deny, hide, lose, refuse

8.Despite( बावजूद)
Synonyms: against, although, even though, even with, in contempt of

9.Conclusion(निष्कर्ष)
Synonyms: closure, completion, consequence, denouement, development
Antonyms: beginning, cause, commencement, introduction, opening

10.Contingent(आकस्मिक/श्रेणी)
Synonyms: unforeseen, accidental, chance, dependent, incidental,
Antonyms: designed, essential, planned, certain, definite

11.Fructified(चुका)
Synonyms: fecundate, impregnate, pollinate

12.Unilateral(एकतरफा/एकपक्षीय
Synonyms: one-sided, independent
Antonyms: bilateral, many-sided, multilateral

13.Engaging(चित्ताकर्षक/मनोहर
Synonyms: alluring, appealing, attractive, captivating, fascinating
Antonyms: boring, disagreeable, hateful, mean, repulsive

14.Sticking(लिपटना/चिपटनेवाला
Synonyms: attach, catch, fix, glue, hold
Antonyms: go, halt, leave, let go, release

15.Foreseeable(निकट )
Synonyms: certain, anticipated, calculable, expected, foreseeable
Antonyms: improbable, unexpected, unforeseen, unpredictable

 

 

Credit To The Hindu News Paper

The U.S. administration’s decision to grant India and seven other countries waivers on the sanctions it re-imposed on Iran provides some temporary relief to India. While the details of the waivers are yet to be released, the Trump administration has agreed to waive sanctions on the purchase of oil from Iran for about six months, which would help the Modi government tide over until the general elections, without any major oil price shocks. The waivers announced cover Indian investment in Iran’s Chabahar port and the plan to build a railway line from Chabahar to Afghanistan to facilitate trade. The waivers are welcome also as they indicate that despite all the harsh rhetoric on “choking Iran”, the U.S. may have had a rethink on its sanctions, and the costs incurred in pushing around allies and partners such as India, Japan and South Korea to “zero out” oil purchases. This conclusion stems from the fact that both India and China, Iran’s two biggest oil importers, have been extended waivers. This flexibility could be a sign that the U.S. is leaving space for leeway in resuming talks with Iran in the long term.

However, the fact that the waivers are temporary, and contingent on further reductions in oil trade with Iran, means that for now India will need to continue to find alternatives to its offtake from Iran. The alternative rupee-rial mechanism, which was operationalised in 2012 during the last round of sanctions, depends on increasing Iranian demand for Indian goods to balance India’s annual purchases of about $10 billion, which hasn’t fructified yet. The European Union, Russia and China have also been working on a “special payment mechanism” to circumvent sanctions. But they have yet to launch it, limiting India’s options. Moreover, despite the waivers from the U.S., India will still face the impact of the U.S. sanctions, both on oil and on its investment in Chabahar, as very few international companies may be willing to undertake contracts. Above all, by seeking the waivers, instead of sticking to its earlier line that it accepted only UN and not “unilateral” sanctions, India has lost its moral leverage. Unlike China, it chose to reduce its oil intake from Iran, and entered into negotiations for alternative fuel supplies from Iran’s rivals in the Gulf. This could, in turn, impact Delhi-Tehran ties in the long run. Meanwhile, India will have to keep engaging the U.S. in order to secure further waivers, both in this case and for CAATSA-related U.S. sanctions on Iran, Russia and North Korea. As a result, by securing the waiver the government has not exactly dodged the figurative bullet, but merely outpaced it. It will need to keep outrunning that bullet for the foreseeable future.