NEW DELHI: Hours after India inked a significant agreement to operate the Chabahar Port in Iran for a decade, the United States issued a cautionary statement, warning that “anyone” considering business deals with Tehran needs to be aware of the “potential risk of sanctions.”
Vedant Patel, principal deputy spokesperson for the US State Department, addressed the media, acknowledging the reported deal between Iran and India regarding the Chabahar Port.Patel emphasized that while the US respects India’s foreign policy goals and bilateral relationship with Iran, it remains steadfast in enforcing sanctions against Iran.
“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,” Vedant Patel said in the press briefing on Monday (local time).
“US sanctions on Iran remain in place, and we will continue to enforce them,” Patel said, emphasizing the importance of entities considering business dealings with Iran to be cognizant of the associated risks. “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.
The Long-Term Bilateral Contract on Chabahar Port Operation, signed between Indian Ports Global Limited (IPGL) and Iran’s Port & Maritime Organisation (PMO), paves the way for the operation of the Shahid-Behesti port within the Chabahar Port Development Project for the next decade. IPGL has committed substantial investment in equipping and operating the port, with additional funding support from India.
IPGL will invest approximately USD 120 million in equipping the port. India has also offered an in-credit window equivalent to USD 250 million, for mutually identified projects aimed at improving Chabahar-related infrastructure.
This 10-year long-term lease agreement further strengthens the bilateral ties between the two countries while bolstering confidence and boosting trust among trading communities in the region.
The Chabahar Port is an India-Iran flagship project that serves as an important transit port for trade with Afghanistan and Central Asian countries, which are landlocked countries. India has been a key player in the development and operation of Chabahar Port.
The Indian government has invested in the port’s infrastructure and has been involved in upgrading its facilities to make it a viable transit route for Indian goods bound for Afghanistan and Central Asia.
Also Read: Why is Chabahar Port in Iran strategically important for India? Check how new pact helps counter Pakistan, China
(With inputs from agencies)
Vedant Patel, principal deputy spokesperson for the US State Department, addressed the media, acknowledging the reported deal between Iran and India regarding the Chabahar Port.Patel emphasized that while the US respects India’s foreign policy goals and bilateral relationship with Iran, it remains steadfast in enforcing sanctions against Iran.
“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,” Vedant Patel said in the press briefing on Monday (local time).
“US sanctions on Iran remain in place, and we will continue to enforce them,” Patel said, emphasizing the importance of entities considering business dealings with Iran to be cognizant of the associated risks. “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.
The Long-Term Bilateral Contract on Chabahar Port Operation, signed between Indian Ports Global Limited (IPGL) and Iran’s Port & Maritime Organisation (PMO), paves the way for the operation of the Shahid-Behesti port within the Chabahar Port Development Project for the next decade. IPGL has committed substantial investment in equipping and operating the port, with additional funding support from India.
IPGL will invest approximately USD 120 million in equipping the port. India has also offered an in-credit window equivalent to USD 250 million, for mutually identified projects aimed at improving Chabahar-related infrastructure.
This 10-year long-term lease agreement further strengthens the bilateral ties between the two countries while bolstering confidence and boosting trust among trading communities in the region.
The Chabahar Port is an India-Iran flagship project that serves as an important transit port for trade with Afghanistan and Central Asian countries, which are landlocked countries. India has been a key player in the development and operation of Chabahar Port.
The Indian government has invested in the port’s infrastructure and has been involved in upgrading its facilities to make it a viable transit route for Indian goods bound for Afghanistan and Central Asia.
Also Read: Why is Chabahar Port in Iran strategically important for India? Check how new pact helps counter Pakistan, China
(With inputs from agencies)