NEW DELHI: Just hours after India signed a major agreement to operate the Chabahar Harbor In Iran For a decade, the United States issued a cautionary statement warning that “anyone” considering doing business with Tehran must be aware of the “potential risk of sanctions.”
Vedant Patel, Principal Deputy Spokesperson of the US State Department, addressed the media and acknowledged the report act between Iran and India regarding the port of Chabahar. Patel stressed that while the US respects India's foreign policy objectives and bilateral relations with Iran, it remains steadfast in enforcing sanctions against Iran.
“We are aware of these reports that Iran and India have signed an agreement on Chabahar port. “I would let the Indian government talk about its own foreign policy objectives towards Chabahar port as well as its own bilateral relations with Iran,” Vedant Patel said in the press conference on Monday (local time).
“US sanctions against Iran remain in effect and we will continue to enforce them,” Patel said, stressing the importance of companies considering doing business with Iran to be aware of the risks involved. “Any company, anyone considering doing business with Iran, needs to be aware of the potential risk they are exposing themselves to, the potential risk of sanctions,” Patel said.
The long-term bilateral contract for the operation of Chabahar Port signed between Indian Ports Global Limited (IPGL) and the Iranian Ports and Maritime Organization (PMO) paves the way for the operation of Shahid-Behesti Port under the Chabahar Port Development Project Next Decade. IPGL has made significant investments in the port's equipment and operations and receives additional financial support from India.
IPGL will invest around $120 million in equipping the port. India has also offered a credit window equivalent to $250 million for jointly identified projects aimed at improving Chabahar-related infrastructure.
This long-term lease agreement of ten years further strengthens the bilateral relations between the two countries while increasing trust and confidence among the trading communities in the region.
The Chabahar Port is an India-Iran flagship project that serves as a major transit port for trade with Afghanistan and landlocked Central Asian countries. India was 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 to Afghanistan and Central Asia.
Also Read: Why is Chabahar Port in Iran Strategically Important for India? Find out how the new agreement counters Pakistan and China
(With contributions from agencies)
Vedant Patel, Principal Deputy Spokesperson of the US State Department, addressed the media and acknowledged the report act between Iran and India regarding the port of Chabahar. Patel stressed that while the US respects India's foreign policy objectives and bilateral relations with Iran, it remains steadfast in enforcing sanctions against Iran.
“We are aware of these reports that Iran and India have signed an agreement on Chabahar port. “I would let the Indian government talk about its own foreign policy objectives towards Chabahar port as well as its own bilateral relations with Iran,” Vedant Patel said in the press conference on Monday (local time).
“US sanctions against Iran remain in effect and we will continue to enforce them,” Patel said, stressing the importance of companies considering doing business with Iran to be aware of the risks involved. “Any company, anyone considering doing business with Iran, needs to be aware of the potential risk they are exposing themselves to, the potential risk of sanctions,” Patel said.
The long-term bilateral contract for the operation of Chabahar Port signed between Indian Ports Global Limited (IPGL) and the Iranian Ports and Maritime Organization (PMO) paves the way for the operation of Shahid-Behesti Port under the Chabahar Port Development Project Next Decade. IPGL has made significant investments in the port's equipment and operations and receives additional financial support from India.
IPGL will invest around $120 million in equipping the port. India has also offered a credit window equivalent to $250 million for jointly identified projects aimed at improving Chabahar-related infrastructure.
This long-term lease agreement of ten years further strengthens the bilateral relations between the two countries while increasing trust and confidence among the trading communities in the region.
The Chabahar Port is an India-Iran flagship project that serves as a major transit port for trade with Afghanistan and landlocked Central Asian countries. India was 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 to Afghanistan and Central Asia.
Also Read: Why is Chabahar Port in Iran Strategically Important for India? Find out how the new agreement counters Pakistan and China
(With contributions from agencies)
