New Delhi: One day following the US cautioning India about the “possible sanctions risks” linked to its signing of the strategic Chabahar port agreement with Iran, External Affairs Minister S Jaishankar emphasized the importance of adopting a broader perspective. He asserted that the agreement is ultimately advantageous to all parties involved.

Addressing attendees at his book launch event in Kolkata on Wednesday, Jaishankar underscored the significance of effective communication, persuasion, and comprehension in conveying that the pact serves the collective benefit of all stakeholders.

Jaishankar further remarked, “They (US) have not done so in the past. So, if you look at the US’ own attitude towards the port in Chabahar, the US has been appreciative of the fact that Chabahar has a larger relevance…we will work at it.”

#WATCH | Kolkata, West Bengal: On US's remarks on Chabahar port, EAM Jaishankar says, "…I did see some remarks which were made, but its a question of communicating, convincing and getting people understand that this is actually for everybodys benefit. I dont think people should… pic.twitter.com/M6wEkzcAae

— ANI (@ANI) May 14, 2024

The US State Department’s announcement on Tuesday highlighted the importance of considering the potential risks, including sanctions, for those engaging in business deals with Iran. Deputy Spokesperson Vedant Patel acknowledged reports of the Iran-India Chabahar port agreement, deferring further discussion on India’s foreign policy objectives and bilateral relationship with Iran to the Indian government.

Patel reiterated the US’s commitment to maintaining sanctions on Iran. The agreement between India and Iran, finalized on Monday, focuses on the joint development and management of the Chabahar port to enhance strategic and economic cooperation.

India Ports Global Limited (IPGL) pledged $370 million to upgrade the port’s infrastructure, a crucial step in establishing Chabahar as a vibrant regional trade hub.