News: The Chabahar port, being built by India, will transform Iran's geo-strategic position by making it the most cost-effective transportation corridor for the European-Indian Ocean trade, according to the Jerusalem Post. It will also reduce the international economic pressure on the capital Tehran. Upon completion, the port will be Iran's first deepwater facility and will meet modern shipping standards. Meanwhile, the November 24 Interim Nuclear Agreement between Iran and six world powers has been implemented. Under the agreement, Iran and the six powers will get limited easing of trade restrictions on strategic items like aircraft parts and precious metals amounting up to US$7bn of trade over the six months from the date of execution of the agreement.