Active Stocks
Tue May 28 2024 15:59:27
  1. Tata Steel share price
  2. 174.85 -0.37%
  1. HDFC Bank share price
  2. 1,530.50 0.17%
  1. ITC share price
  2. 428.90 -0.60%
  1. State Bank Of India share price
  2. 830.90 -0.38%
  1. Infosys share price
  2. 1,466.20 -0.37%
Business News/ News / World/  US warns Pakistan of doing ‘trade’ with Iran amid President Raisi's visit: ‘Potential risk of sanctions if…’

US warns Pakistan of doing ‘trade’ with Iran amid President Raisi's visit: ‘Potential risk of sanctions if…’

The United States warned Pakistan of potential sanctions for considering business deals with Iran during President Raisi's visit. US State Department vows to disrupt proliferation networks and weapons of mass destruction procurement.

US Department of State's Principal Deputy Spokesperson Vedant Patel. (PTI Photo) Premium
US Department of State's Principal Deputy Spokesperson Vedant Patel. (PTI Photo)

The United States on Tuesday warned Pakistan of ‘potential risk of sanctions’ for considering business deals with Iran amid President Ebrahim Raisi's three-day visit to the Islamic nation. 

“We're going to continue to disrupt and take actions against proliferation networks and concerning weapons of mass destruction procurement activities wherever they may occur," US State Department Principal Deputy Spokesperson Vedant Patel said. 

“We advise anyone considering business deals with Iran to be aware of the potential risk of sanctions. But ultimately, the government of Pakistan can speak to their own foreign policy pursuits," the US official added. 

Why does US warn Pakistan of sanctions?

Patel further explained the reason behind warning of potential sanctions on Pakistan, saying these were entities that were proliferators of weapons of mass destruction and the means of their delivery. 

"These were entities based in the PRC in Belarus and that we have witnessed to have supplied equipment and other items to Pakistan's ballistic missile program...," he clarified. 

The entities include Belarus-based Minsk Wheel Tractor Plant which has worked to supply special vehicle chassis to Pakistan's long-range ballistic missile program.

Pakistan-Iran bilateral ties

During his three-day visit to Pakistan, President Ebrahim Raisi inked eight bilateral agreements including the setting up of a joint special economic zone with Islamabad. The two nations discussed their vision of advancing political, economic, trade, and cultural ties, as per Samaa reports. 

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

Pakistan's Interior Ministry, in an official statement, said both leaders agreed on principle to forbid terrorist organizations from operating within each other's borders and to work together on counterterrorism initiatives.

Raisi emphasized that Pakistan and Iran must increase their bilateral commerce to about $10 billion in the next three to four years. Ebrahim Raisi is the first Iranian president to visit Islamabad in eight years.

(With inputs from agencies)

You are on Mint! India's #1 news destination (Source: Press Gazette). To learn more about our business coverage and market insights Click Here!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 24 Apr 2024, 09:49 AM IST
Next Story footLogo
Recommended For You