US hints at 'potential risk of sanctions' amid Pak-Iran trade agreements

The United States State Department Tuesday warned against the "potential risk of sanctions" in light of the business deals between Pakistan and Iran following Iranian President Seyyed Ebrahim Raisi's official visit to Pakistan.

Without mentioning Pakistan in a statement, a State Department spokesperson said: "We advise anyone considering business deals with Iran to be aware of the potential risk of sanctions."

The spokesperson, while commenting on Islamabad's trade and economic ties with Washington, said US is Pakistan’s biggest export market and one of its largest investors.

"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," they added, stressing the significance of economic relations between both countries.

However, considering Islamabad's closeness with Tehran amid President Raisi's three-day visit and the bilateral agreements signed between the two nations, the spokesperson hinted towards these relations being at risk with chances of potential sanctions owing to Iran's position in the world.

"We do not preview potential sanctions actions," the spokesperson said and referred journalists to the Government of Pakistan for any further comment on the matter.

The State Department's statement comes at a crucial standpoint in Pakistan's history as it works to advance its "brotherly ties" with Iran by welcoming their president, months after their cross-border skirmishes in January.

The statement also holds significance following Iran's standing at the global level, owing to its regional activities and recent clashes with Israel after it attacked its embassy in Damascus, killing two senior members of the Islamic Revolutionary Guard Corps.

Meanwhile, both Tehran and Islamabad also signed a total of eight accords on varying subjects to enhance cooperation in the different fields including trade, science technology, agriculture, health, culture, and judicial matters with both PM Shehbaz and President Raisi witnessing the momentous occasion.

In his address during joint presser with the prime minister, the Iranian president revealed that both Pakistan and Iran have agreed to increase trade volume to $10 billion.

The signing ceremony also marked the ratification of a security cooperation agreement between the governments of both countries.

ePaper - Nawaiwaqt