SANTIAGO, Chile, Feb. 24 (UPI) -- The United States has accused Chile of putting its own security and regional stability at risk by advancing a proposed undersea fiber-optic cable project known as Chile China Express, backed by state-owned China Mobile.

Washington said the initiative could affect sovereignty and carries significant strategic and geopolitical implications.

"Over the past two months I have held numerous meetings with ministers and government officials on this issue. I was very clear and frank about our concern over threats not only to Chilean security, but to the security of the entire region," U.S. Ambassador to Chile Brandon Judd said Monday during a news conference at the U.S. Embassy in Santiago.

Chilean officials have said the Chinese-backed project remains under evaluation. However, Chile's Ministry of Transport and Telecommunications on Jan. 27 approved a 30-year concession to install and operate a transmission network spanning about 12,349 miles across the Pacific Ocean between Chile and Hong Kong.

The decree was annulled two days later, according to local newspaper El Mercurio.