Hyderabad, Jan. 16 -- India has reportedly begun winding down its involvement at Iran's strategically located Chabahar port, stepping back from operational responsibilities as the threat of renewed US sanctions grows.

According to a report byEconomic Times, India has already transferred its committed investment of about $120 million for the port project and is now limiting further exposure as the Trump administration prepares to end the sanctions waiver that had allowed New Delhi to operate at the facility.

The waiver, granted in 2018 under the Iran Freedom and Counter-Proliferation Act (IFCA) to support Afghanistan's connectivity and humanitarian needs, is expected to lapse on April 26. The US decision not to renew the exemption has tr...