Biden Unlocks Fresh Funds to Iran Totaling Billions

The Biden Administration Approves Sanctions Waiver Allowing Iran Access to $10 Billion⁢ in ⁢Frozen Assets

The Biden administration on Tuesday reapproved a sanctions waiver that will allow Iran to access upward of $10 billion in frozen assets, the⁢ State Department⁤ confirmed to the Washington Free Beacon.

The sanctions waiver, which was set to⁣ expire‍ today after‌ first being authorized for a period of 120 days in July, allows Iraq to pay Iran for multibillion-dollar electricity purchases.‌ This​ is the first⁢ time the Biden administration has renewed the waiver since the Iran-backed terror group‍ Hamas launched an unprecedented attack on Israel that⁤ was reported⁢ to‌ have been planned with Tehran’s support.

Renewal of the⁢ waiver⁤ “allows Iraq to use its own funds to render payment for Iranian electricity ⁢imports into restricted Iranian accounts in⁤ Iraq,”⁢ a State Department official told the ⁤ Free Beacon,​ speaking only on background. “These ‍restricted funds can only be used​ for humanitarian and other non-sanctionable transactions.”

While Iran​ can only use the funds related ⁢to ⁤the sanctions waiver for the purchase of humanitarian goods,‍ critics of ‌the administration’s⁤ policy argue that by freeing up this cash, Iran can allocate other financial resources to‌ its⁣ global terrorism operation, ⁣which has been in overdrive since Hamas’s October 7 attack on Israel. Analysts place ⁣the amount of cash accessible by Iran at upward ‍of $10 ⁤billion, as the Free Beacon first reported on Monday.

In deciding to renew the ⁢waiver ⁤for an additional 120 days, the State Department official said, “Unfortunately, Iraq will not wean itself off of Iranian ‌gas imports overnight.”

The administration maintains that allowing these funds to⁤ be accessed by Iran limits its leverage of the Iraqi government, which‌ has⁣ grown increasingly ⁤close to Tehran’s hardline regime in recent years.

“It is‌ in the U.S. interest that this money leave⁢ Iraq and be spent down from Iran’s ​accounts held overseas,” the State Department official went on. “Money ‌used for non-sanctionable, allowable transactions—like humanitarian ​trade—is not available to ⁤Iran for ‍other purposes, and it deprives Iran of leverage ​against the Iraqi government.”

Critics, however, see ‍the ⁢sanctions waiver as proof that​ the administration is ⁢maintaining Tehran’s⁢ financial channels, even⁣ after it provided Hamas with the resources necessary to slaughter more than 1,200 ‍Israeli and take hostage many others,⁤ including‍ Americans.

“The White House just responded to October 7th with a $10 billion reward,” Richard Goldberg, ⁢a senior adviser at the Foundation for Defense of Democracies and sanctions expert who served on the White House National Security Council, told the Free Beacon. “Congress needs to act quickly to cut off Iran’s access to every penny.”

“For that‌ reason,”‌ Goldberg ⁣said, “this waiver continues to be necessary, to provide⁤ space and time for ​the government ‌of Iraq ⁢to implement [Iraqi prime minister Mohammed Shia Al Sudani’s] ⁤energy​ reform agenda.”

The State Department also confirmed that ⁣like July’s version of the waiver, Iraq will be able to transfer Iranian funds to third-party countries, including Oman and several in Europe.

While the Trump administration during its time in office granted a sanctions waiver to Iraq for these electricity ⁢payments, it gave the authorization only on the condition that the payments were kept in an‌ escrow account in Baghdad. The Biden administration’s⁤ version allows the money to move outside the country, making ⁤it‌ easier for Tehran‌ to access the funds, according to Goldberg.

The State Department maintains ​that Iraq’s ongoing⁣ payments to Iran effectively reduce “Iranian leverage over Iraq.”

How can the Biden administration ensure that the released funds for humanitarian purposes are not diverted by Iran for illicit activities?

Ncreasingly dependent on Iranian energy ​imports.‍ The waiver is seen as a way‍ to ensure the stability of Iraq’s energy supply while also supporting humanitarian needs.

However, critics argue that the waiver sends a mixed message to Iran, especially in light of recent escalations ‌in the ⁢region. ⁣They fear that⁣ the release of these funds ​will enable ​Iran to​ continue supporting terrorist activities and destabilizing the Middle East.

The decision to renew the sanctions waiver⁢ comes at ⁤a crucial time, as tensions in the region continue ​to rise. The attack on Israel by Hamas, reportedly planned with Iran’s support, has​ raised concerns about Iran’s influence and its ⁢role ‍in fueling conflicts in the region.

The State Department’s assertion that the released funds can only​ be used for humanitarian purposes is meant to alleviate some of ⁢these concerns. However, skeptics argue that Iran has a history⁢ of diverting funds for ‌illicit purposes, and there is no guarantee that the released funds will not be ‌used to support ⁣its ‍global terrorism operations.

The Biden administration’s approach to Iran has been a subject of intense scrutiny and debate. While the administration has expressed its commitment to‌ reentering the Iran nuclear deal, it also aims to‌ address Iran’s destabilizing activities in the region. The decision to renew the sanctions waiver can be seen as an attempt to strike a delicate balance between supporting Iraq’s energy needs‌ and addressing concerns about Iran’s behavior.

Moving forward,⁢ it will be⁢ essential for ⁣the Biden administration to clearly communicate its strategy for dealing with Iran. The release of these funds should be accompanied by increased oversight and monitoring to ensure that they are used strictly​ for​ humanitarian purposes as intended.

As tensions in the region continue ⁣to escalate, the international ​community will be closely watching how the Biden administration navigates its relationship with Iran. The‌ reapproval of the sanctions waiver ‌raises important questions about the ‍administration’s stance on Iran and its commitment to regional stability. Only time will tell how effective this approach ‍will be in ‍achieving its desired outcomes.

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