Nepal and India have taken a significant step forward in their bilateral relations, with Nepal set to export close to 1,000 megawatts of electricity to India. This development was announced by Indian External Affairs Minister S Jaishankar following discussions with his Nepalese counterpart, Arzu Rana Deuba. The move signifies a new milestone in energy cooperation between the two nations and underscores their commitment to strengthening ties in various sectors.
The United States has cautioned Pakistan against conducting business with Iran, warning of potential sanctions. This warning follows Iranian President Ebrahim Raisi’s visit to Pakistan, during which the two countries pledged to increase bilateral trade to $10bn annually and collaborate in the energy sector, including the Iran-Pakistan gas pipeline project. The US has imposed sanctions on Iran for decades to restrict its income from oil and petroleum products and has sanctioned entities and individuals accused of supporting its armed forces or militant groups. Pakistan is facing economic challenges and is seeking financial assistance from allies like Saudi Arabia, the United Arab Emirates, and the US, who are considered rivals of Iran. Experts believe Pakistan needs to balance its relationships with Iran and the US, prioritizing trade and energy cooperation with Iran while addressing the risk of sanctions.
Pakistan and Iran have reaffirmed the importance of energy cooperation and electricity trade despite potential US sanctions. During Iranian President Ebrahim Raisi’s visit to Pakistan, the two countries agreed to expedite a free trade agreement and boost bilateral trade to $10 billion over five years. They also emphasized collaboration on combating terrorism, narcotics smuggling, and other threats. The joint statement comes after US warnings about sanctions risks, highlighting the delicate balance in regional relations.
