US Warns of Sanction Risks for Business Deals with Iran

On 14th May 2024, following India-Iran Chabahar port deal, US cautioned entities about potential sanctions risks.

Key Points

US Sanctions Warning: US State Department emphasized potential sanctions risks for entities engaging in business deals with Iran, including the Chabahar port agreement.
No Exemption for Chabahar: US Deputy spokesperson confirmed that the Chabahar port deal does not have an exemption from US sanctions.
India's Response: Indian Ministry of External Affairs sources downplayed US remarks.
Background of Chabahar Port: Chabahar port, located in Iran's Sistan-Baluchistan province, serves as a crucial point for India's connectivity to Afghanistan and Central Asia.
Trilateral Agreement: India, Iran, and Afghanistan signed a trilateral agreement in 2016 to establish the International Transport and Transit Corridor, enhancing regional connectivity.
India's Contribution: India's involvement in developing Chabahar port includes supplying equipment and operating the port through India Ports Global Limited (IPGL).
Humanitarian Assistance: Chabahar port facilitates the transit of humanitarian aid, including wheat, pulses, and pesticides, underscoring its significance beyond trade.