Cost of doing business with Iran? US warns Pakistan of sanctions risk | Politics News [Video]

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.

“We advise anyone considering business deals with Iran to be aware of the potential risk of sanctions. …