After India inked a 10-year agreement to manage the Chabahar Port in Iran, the United States issued a cautionary warning, stating that “anyone” contemplating business dealings with Tehran should be mindful of the “potential risk of sanctions.”
Vedant Patel, Principal Deputy Spokesperson for the US State Department, stated that while the US acknowledges India’s foreign policy objectives, it also emphasised the importance of recognizing potential sanctions risks when engaging in business with Iran.
Addressing the press, Patel stated: “We are aware of these reports that Iran and India have signed a deal concerning the Chabahar Port, I would let the government of India speak to its own foreign policy goals, vis-a-vis the Chabahar Port as well as its own bilateral relationship with Iran.”
He added: “I would just say…US sanctions on Iran remain in place and we will continue to enforce them.”
“Any entity, anyone considering business deals with Iran, they need to be aware of the potential risk they are opening themselves up to, potential risk of sanctions,” Patel said.
“Anyone doing business with Iran should be aware of the risks, including potential sanctions,” says Vedant Patel, the US State Department’s deputy spokesperson, regarding India-Iran’s 10-year agreement for operations at Chabahar port. pic.twitter.com/Qu2tZSGTEE
— IANS (@ians_india) May 14, 2024
On Monday, the Long-Term Bilateral Contract for the operation of the Chabahar Port was signed between Indian Ports Global Limited (IPGL) of India and the Port & Maritime Organisation (PMO) of Iran. This agreement allows for the operation of the Shahid-Behesti port within the Chabahar Port Development Project for a duration of 10 years.
ALSO READ | PoK Unrest: As Protest Enters The Fourth Day, Clashes Erupts Between Protestors And Authorities. WATCH
Under this contract, IPGL has pledged to continue enhancing and managing the port throughout the duration of the agreement. Upon the completion of the 10-year period, both parties intend to further extend their collaboration in the development of the Chabahar Port.
