US warns of ‘potential sanctions’ over Pakistan-Iran business deals.
In response to the recent business engagements between Pakistan and Iran following Iranian President Seyyed Ebrahim Raisi‘s official visit to Pakistan, the United States State Department has issued a cautionary statement regarding the “potential risk of sanctions.”
Warning Against Business Deals with Iran:
The State Department, without directly naming Pakistan, emphasized the risks associated with conducting business with Iran.
A spokesperson stated, “We advise anyone considering business deals with Iran to be aware of the potential risk of sanctions.”
Importance of US-Pakistan Economic Relations:
While highlighting the significant economic ties between the US and Pakistan, the spokesperson shed light on the pivotal role of the US as Pakistan’s largest export market and one of its major investors.
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The US has maintained its status as a leading investor in Pakistan for the past two decades.
Potential Implications for Islamabad’s Relations:
With Pakistan’s growing proximity to Tehran evident during President Raisi’s visit and the subsequent bilateral agreements, the State Department suggested that these relations could be at risk due to Iran’s international standing.
Non-Disclosure of Potential Sanctions Actions:
The spokesperson refrained from disclosing specific sanctions actions but directed inquiries to the Government of Pakistan for further comments on the matter.
Significance Amid Regional Dynamics:
The State Department’s statement is of paramount importance given Pakistan’s efforts to strengthen its ties with Iran, described as “brotherly,” amidst recent cross-border tensions in the region.
Bilateral Agreements and Future Trade Outlook:
During President Raisi’s visit, Pakistan and Iran signed eight agreements spanning various sectors, with a focus on enhancing cooperation in trade, science, technology, agriculture, health, culture, and judicial matters.
میں، اسلام، اسلامی اقدار، فلسطین کے مظلوموں اور حق و انصاف کا ہمیشہ دفاع کرنے والے پاکستانی عوام کو رہبر انقلاب اسلامی اور ایران کی عظیم قوم کی جانب سے سلام عرض کرتا ہوں۔
ایران و پاکستان کے مشترکات کی وجہ سے دونوں ملکوں کے درمیان تعلقات میں توسیع و فروغ کی اہم گنجائش موجود ہے۔— سید ابراهیم رئیسی (@raisi_com) April 22, 2024
President Raisi disclosed aspirations to increase the trade volume between the two countries to $10 billion.
Security Cooperation:
As US warns of ‘potential sanctions’ over Pakistan-Iran business deals, President Raisi’s visit also saw the ratification of a security cooperation agreement between the governments of Pakistan and Iran, further cementing the bilateral relationship.
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