Even though it had been exempted from US economic sanctions, Iran’s Chabahar port project could not take off as various indirect financial drawbacks persisted. Having direct access to the Indian Ocean, the deep-sea port has potential to become a regional trade hub and bring in considerable revenue for Iran.
Yet Chabahar’s fortunes could change soon if China enters the fray. Having finalized a 25-year partnership with Tehran recently, Beijing may invest in the development of the port and help in giving global status.