US cautions against ‘potential threat of sanctions’ over Pakistan-Iran agreements

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US cautions against 'potential threat of sanctions' over Pakistan-Iran agreements

WASHINGTON, APR 23: The Spokesperson of the US Department of State recently addressed concerns regarding potential trade agreements between Pakistan and Iran, highlighting the importance of caution due to the risk of sanctions.

In response to inquiries about Pakistan-Iran trade agreements, the spokesperson emphasized that the United States is one of Pakistan’s largest export markets. However, he advised caution to those considering trade deals with Iran, citing the potential threat of sanctions.

“We advise anyone considering business deals with Iran to be aware of the potential risk of sanctions.”

In the statement, the spokesperson cautioned against doing business with Tehran, which did not specifically mention Pakistan. Later, the spokesperson reminded Islamabad of its own trade and economic ties with Washington. According to him, the US is both Pakistan’s largest export market and one of its biggest investors.

Also Read: Pakistan and Iran vow to boost trade volume to $10bln

“We have also been a leading investor in Pakistan for the past 20 years. Pakistan’s economic success is in both of our interest, and we look forward to continuing our partnership,” he added.

In the wake of President Raisi’s three-day visit to Pakistan and eight bilateral agreements inked by the two countries, the spokesperson alluded to the possibility that these relations could be jeopardized by sanctions because of Iran’s standing in the international community.

The spokesperson stated, “We do not preview potential sanctions actions.”

On Monday, Pakistan and Iran reaffirmed their commitment to bolster bilateral relations across various sectors, aiming to elevate their trade volume to a staggering $10 billion. The consensus was reached during high-level delegation talks held in Islamabad.

Also Read: Iranian President Raisi lands in Lahore

Led by Prime Minister Shehbaz Sharif from the Pakistani side and President Raisi representing Iran, the discussions underscored the shared vision of advancing political, economic, trade, and cultural ties between the two nations.

Earlier in the day, Iran and Pakistan inked eight memoranda of understanding for collaboration in a range of areas. PM Shehbaz and Iranian President Ebrahim Raisi witnessed the MoU signing ceremony.

The accords included cooperation in veterinary and animal health, judicial support in civil cases, and security matters.