Cost of doing business with Iran? US warns Pakistan of sanctions risk
Al Jazeera
Iran’s Raisi visited Pakistan as the neighbours seek to mend ties after tit-for-tat military strikes this year.
Islamabad, Pakistan – The United States has warned Pakistan of the risk of sanctions after it promised greater security and economic cooperation with Iran during a visit by President Ebrahim Raisi.
The first Iranian president to visit the South Asian country in eight years, Raisi concluded his three-day trip on Wednesday as the neighbouring countries said they would increase bilateral trade to $10bn a year over the next five years, from the current $2bn.
Pakistan’s foreign office said the two sides additionally agreed to cooperate in the energy sector including trade in electricity, power transmission lines and the Iran-Pakistan gas pipeline project.
The gas pipeline project has languished for more than a decade because of political turmoil and international sanctions.
The US Department of State on Tuesday cautioned the Pakistani government of engaging in business deals with Iran.
