Three days after the November election, the Biden-Harris administration lifted sanctions on Iran, granting the country access to over $10 billion in previously frozen funds, according to a copy of the confidential order sent to Congress and reviewed by the Washington Free Beacon.
On November 8, Secretary of State Antony Blinken determined that “it is in the national security interest of the United States” to permit Iraq to transfer over $10 billion to Iran for electricity import payments by waiving mandatory economic sanctions.
Despite opposition from congressional Republicans, the Biden-Harris administration has repeatedly renewed the waiver, with critics arguing that the funds contribute to terrorism and Iran’s conflict with Israel. One renewal occurred just a month after Hamas launched its October 7 attack on Israel.
The latest version of the waiver extends sanctions relief for 120 days, leaving the incoming Trump administration to decide whether Iran will continue to receive the waiver after that period.
While the first Trump administration approved a similar waiver—causing friction with some Republican lawmakers—it imposed stricter conditions, limiting Iran’s access to the funds. Last year, the Biden State Department modified the waiver to enable Iran to convert the funds from Iraqi dinars into euros, which could then be stored in bank accounts in Oman. Using euros, a globally accepted currency, makes it easier for Iran to spend the funds internationally. Under the first Trump administration’s rules, Iran had to keep the funds in an escrow account in Baghdad, limiting their accessibility.
The State Department confirmed last week that it had issued the waiver.
“We remain committed to reducing Iran’s malign influence in the region,” State Department deputy spokesman Vedant Patel stated during a briefing. “Our viewpoint is that a stable, sovereign, and secure Iraq is critical to these efforts.”
The Biden administration asserts that the funds are strictly for humanitarian purposes, such as purchasing medicine and supplies. However, Republican critics argue that money is interchangeable, and giving Iran access to these sanctioned funds makes it easier for Tehran to divert its remaining reserves to regional terror groups, including Hamas, Hezbollah, and the Houthi rebels in Yemen.
President-elect Donald Trump, who significantly weakened Iran during his first term, has promised to renew his “maximum pressure” strategy. Richard Goldberg, a former member of the White House National Security Council who handled the Iran portfolio, expressed support for this commitment.
“Joe Biden and his team are taking credit for bringing down Assad just a few weeks after renewing a sanctions waiver to give Iran access to billions of dollars,” Goldberg remarked. “Give me a break. This policy of appeasement needs to end on January 20, and locking down these accounts so Iran can’t get access should be priority one.”
{Matzav.com}