The United States warns of the potential risks of imposing sanctions, in the wake of the Chabahar port agreement between Iran and India

The United States said that any country that has commercial dealings with Iran is at risk of sanctions, noting that it is aware that Iran and India have signed an agreement regarding the port of Chabahar.

In response to the Indo-Iranian Chabahar agreement, he said: “We are aware of these reports that Iran and India have signed an agreement related to the Chabahar port.” Deputy Foreign Ministry spokesman Vedant Patil told reporters in his daily press conference: “I will just say, with regard to the United States, that US sanctions on Iran are still in place and we will continue to implement them.”

When asked if there was an exemption from sanctions “specifically” for the new agreement, the spokesman replied “no.” Patel added: “Any entity and anyone considering doing business with Iran should be aware of the potential risks they are exposing themselves to and the potential risks of sanctions.”

Over the past months, the United States has imposed sanctions to confront Iran's activities, targeting its drone and missile programs, as well as its funding of groups such as Hamas.

On May 13, India and Iran signed a 10-year contract under which India Ports Global Ltd. (IPGL) about $120 million to equip and develop the Chabahar Port Terminal, which India is working on so far as a means of construction. The trade corridor through Iran to Afghanistan and Central Asia and then to Russia.

A memorandum of understanding for the development of Chabahar port was signed by India in May 2015. The contract was executed on May 23, 2016, during Prime Minister Narendra Modi's visit to Iran.

Chabahar is a deep-water port located in Sistan and Baluchestan Province in Iran. During Mr. Modi's visit to Iran in May 2016, a tripartite agreement to establish an international transport and transit corridor (Chabahar Agreement) was signed between India, Iran and Afghanistan.