The United States issued a cautionary warning shortly after India and Iran signed a significant 10-year agreement to operate the Chabahar Port, emphasizing the potential risks associated with engaging in business with Iran and the continued enforcement of sanctions against Tehran. Vedant Patel, the principal deputy spokesperson for the US Department of State, highlighted the importance of understanding the risks involved in such dealings and the consequences of potential sanctions.
During a press conference, Patel acknowledged the reported agreement between India and Iran regarding the Chabahar Port, allowing the Indian government to articulate its foreign policy objectives and bilateral relationship with Iran. He emphasized the need for entities considering business deals with Iran to be fully aware of the risks, specifically the risk of facing sanctions imposed by the United States.
The Long-Term Bilateral Contract signed between Indian Ports Global Limited (IPGL) and the Port & Maritime Organization (PMO) of Iran solidifies the operation of the Shahid-Behesti port within the Chabahar Port Development Project for a decade. This agreement, valued at $370 million, underlines the strategic importance of the Chabahar Port in facilitating trade with landlocked Central Asian nations, including Afghanistan.
Despite the agreement between India and Iran, the US remains steadfast in its commitment to enforcing sanctions on Iran, with Patel clarifying that there will be no exemptions for India under this deal. He reiterated, “US sanctions on Iran remain in place, and we will continue to enforce them,” emphasizing the need for caution and awareness among entities engaging in business with Iran.
The warning from the US underscores the complexities surrounding international agreements and the delicate balance of diplomatic relations in the context of economic partnerships with countries under sanctions.