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๐Ÿ‡ฐ๐Ÿ‡ท South Korea /Economy & Trade

US, Gulf nations: Investment in Iran conditional; Iran warns against provocation

From Hankyoreh · () Korean

Translated from Korean, summarized and contextualized by DistantNews.

At a glance

News Named sources Context piece
  • The U.S. and Gulf Cooperation Council (GCC) countries stated that any investment in Iran is conditional and reversible, depending on Tehran's compliance with agreements and cessation of destabilizing actions.
  • Iran's Foreign Ministry strongly criticized the joint statement, calling it interventionist and provocative, and accused the U.S. of using Gulf bases to attack Iran.
  • The U.S. aims to reassure Gulf allies concerned about Iran's strengthened position following recent conflicts, while Iran demands the withdrawal of U.S. troops from the region.

The United States and Gulf Cooperation Council (GCC) nations have issued a joint statement emphasizing that any trade or investment with Iran is conditional and can be reversed. This stance is contingent upon Iran adhering to previous agreements and halting actions that destabilize the region. The statement also highlighted the necessity of free and unrestricted navigation, particularly in the Strait of Hormuz, rejecting any tolls or control attempts.

Ministers further emphasized that all trade and investment with Iran are conditional and reversible.

โ€” Joint StatementThe statement from the U.S. and GCC foreign ministers outlined conditions for engagement with Iran.

In response, Iran's Foreign Ministry condemned the joint statement as "interventionist, irresponsible, and provocative." Tehran accused the U.S. of using military bases in Gulf countries to launch attacks against Iran, asserting that these bases only burden regional nations and create instability. Iran also warned against U.S.-backed aggression and highlighted the U.S.'s direct responsibility for regional instability.

This is contingent upon whether Iran adheres to the previous memorandum of understanding and final agreement, ceases its destabilizing actions, and creates the conditions necessary for economic participation.

โ€” Joint StatementThe statement detailed the conditions Iran must meet for investment and trade.

U.S. Secretary of State Antony Blinken's visit to Bahrain, the UAE, and Kuwait aimed to address concerns among Gulf allies. These nations are reportedly uneasy about Iran's enhanced regional influence despite recent conflicts. Reports suggest that Gulf countries are questioning the reliability of the U.S. as a strategic ally, especially after a recent memorandum of understanding with Iran that reportedly acknowledged Iran's control over the Strait of Hormuz without explicitly addressing Iran's missile program or regional proxies.

The joint statement of the U.S. and the GCC is considered interventionist, irresponsible, and provocative.

โ€” Iranian Foreign MinistryIran's Foreign Ministry responded to the joint statement issued by the U.S. and GCC.

Analysts suggest that Gulf nations are seeking to find common ground with Iran due to their diminished trust in the U.S. and the need to bolster their own defense capabilities for deterrence. The U.S. is reportedly seeking financial contributions from Gulf countries for a $300 billion fund to aid Iran's reconstruction, a move that may further complicate regional dynamics.

The U.S.-Zionist regime's aggression and the U.S.'s direct responsibility for the instability in the Strait of Hormuz and the involvement of some regional countries in the U.S.-Zionist aggression against Iran are sternly reminded.

โ€” Iranian Foreign MinistryIran issued a warning regarding U.S. actions and regional involvement.
DistantNews Editorial

Originally published by Hankyoreh in Korean. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.