US Issues Warning on Iran Business Deals
The United States has issued a warning to nations considering business ventures with Iran, citing the “potential risk of sanctions.”
US State Department’s Statement
State Department Deputy Spokesperson Vedant Patel stated that any entity or individual contemplating business dealings with Iran should be aware of the potential sanctions risk. He acknowledged the US’s awareness of India’s agreement to operate the Chabahar Port.
US Respect for India’s Foreign Policy
Patel emphasized that the US respects India’s foreign policy goals regarding the Chabahar port and its bilateral relations with Iran. India’s government is expected to address its own foreign policy objectives.
US Sanctions Remain in Effect
Despite India’s investment in the Chabahar project, Patel reiterated that US sanctions against Iran remain in place and will continue to be enforced.
Significance of Chabahar Port
The Chabahar Port holds strategic importance for India as a transit hub for trade with Afghanistan and landlocked Central Asian nations. India has actively participated in the port’s development and operation.
India’s Investment in Chabahar
Under a 10-year bilateral contract, India Ports Global Limited (IPGL) will manage the Shahid-Behesti port in the Chabahar Port Development Project. IPGL plans to invest approximately $120 million in port equipment during its tenure. India has also offered a $250 million credit line for projects related to Chabahar’s infrastructure development.
