U.S Warns Of ‘Potential Risk Of Sanctions’ After India-Iran Deal To Operate Chabahar Port

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The US has issued a warning to nations considering business agreements with Iran that could result in sanctions.

The development came several hours after India signed a decade-long deal to operate the Chabahar Port in Iran.

Vedant Patel, the Deputy Spokesperson of the US State Department, on 13 May through his daily news conference, declared that any entity or any individual considering business agreements with Iran needs to be aware of the potential risks they are leading themselves to, including the possible risks of sanctions while claiming that the nation is aware of the Iran-India deal that concerns the Chabahar port.

ANI reported that the US spokesperson mentioned that he would let India’s government speak on its foreign policy goals vis-à-vis the Chabahar port as well as the bilateral relationship with Iran.

In response to a question about India’s pact with Iran on the Chabahar port, Vedant Patel stated that US sanctions on Iran are in place and the US will continue to enforce them.

On 13 May, the Indian Ports Global Limited (known as the IPGL) of India and the Port & Maritime Organisation (abbreviated as PMO) of Iran signed a Long-Term Bilateral Contract on the Chabahar Port operation.

Following this deal, the IPGL is entitled to operate the Shahid-Behesti port in the Chabahar Port Development Project for a decade.

The IPGL is set to invest about USD 120 million in equipping the port during this 10-year lease agreement.

India has offered an in-credit window of USD 250 million for mutually identified undertakings to enhance Chabahar-related infrastructure.

The Chabahar Port is likely to serve as a key transit hub for trade with Afghanistan and other landlocked Central Asian countries.

India has had a vital role in developing and operating the Chabahar Port.

Reference: NDTV, India Today

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