U.S. Grants Extension On Sanctions Waiver, Allowing Billions In Funding For Iran
OAN’s Stephanie Stahl
3:26 PM – Wednesday, November 15, 2023
The United States has granted a four-month extension to a sanctions waiver, allowing Iraq to keep buying electricity from Iran and providing Iran with restricted access to the funds generated, allowing them to buy essential humanitarian goods.
Around $10 billion in payments from Iraq for Iranian electricity is currently held in escrow accounts in Iraq. The waiver ensures that Baghdad can continue importing energy without facing U.S. penalties for violating sanctions on Iran.
The extension was signed by Secretary of State Antony Blinken and transmitted to Congress on Tuesday.
According to United States officials, Blinken approved the waiver to prevent cutting off Iraq from a vital energy source. The officials expressed confidence that Iran would not misuse the funds for dubious purposes. They highlighted the implementation of a thorough vetting process to ensure that the money is strictly allocated for essential purposes such as food, medicine, medical equipment, and agricultural goods.
The move was met by intense criticism from Republicans lawmakers, who believe the extension could be perceived as rewarding Iran, especially given the mounting pressure on the country to cease its support for proxy groups like Hamas, which contribute to destabilizing the Middle East.
“It is absolutely outrageous the Biden Administration continues to find ways to send Iran money — especially from Iraq, where the same Iranian-backed militias who are targeting American forces increasingly run the show and are helping keep Iraq addicted to Iranian energy,” Representative Mike Waltz, (R-Fla.) said in response to the extension.
Senator Eric Schmitt (R-Mo.) posted Wednesday to X, the platform formerly known as Twitter, writing “The Biden Admin has cleared the way for $10 billion to go to Iran.”
The waiver resembles one previously endorsed by Blinken earlier this year, releasing approximately $6 billion from South Korea, intended for Iranian oil imports. This was done in exchange for the release of Americans held captive by Tehran. Similar to the earlier waiver, the funds held by South Korea were transferred to banks in Qatar and are strictly earmarked for the acquisition of humanitarian supplies.
Critics wary of Iran’s activities emphasize that such waivers could potentially enable Iran to redirect domestic revenue, originally intended for humanitarian goods, towards supporting proxies like Hamas, Lebanon’s Hezbollah, and the Houthis in Yemen.
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What measures have been taken to ensure that the funds allocated for Iranian electricity purchases are strictly used for essential purposes
Title: US Grants 4-Month Extension for Iraq to Buy Electricity from Iran
Introduction
In a recent development, the United States has granted a four-month extension to Iraq, allowing the country to continue purchasing electricity from Iran. This extension enables Iraq to access funds generated from these transactions, which will be used to procure essential humanitarian goods. While the decision aims to maintain Iraq’s energy supply, it has sparked criticism from Republican lawmakers who question the wisdom of rewarding Iran amid growing concerns over its proxy activities and destabilizing influence in the Middle East.
Background
Presently, around $10 billion in payments for Iranian electricity from Iraq is being held in escrow accounts. The sanctions waiver ensures that Baghdad can import energy without facing penalties for violating US sanctions on Iran. United States officials, led by Secretary of State Antony Blinken, granted the extension to prevent Iraq from being cut off from a vital energy source. These officials have expressed confidence that Iran will not misuse the funds and have implemented a thorough vetting process to ensure the money is strictly allocated for essential purposes such as food, medicine, medical equipment, and agricultural goods.
Republican Criticism
The decision has faced intense criticism from Republican lawmakers who believe that extending the waiver may be perceived as rewarding Iran. They argue that, given the mounting pressure on Iran to cease its support for proxy groups like Hamas, this move seems counterproductive to regional stability efforts.
Representative Mike Waltz (R-Fla.) expressed his outrage, stating, “It is absolutely outrageous the Biden Administration continues to find ways to send Iran money – especially from Iraq, where the same Iranian-backed militias who are targeting American forces increasingly run the show and are helping keep Iraq addicted to Iranian energy.”
Senator Eric Schmitt (R-Mo.) took to social media to express his concern, tweeting, ”The Biden Admin has cleared the way for $10 billion to go to Iran.” Schmitt’s tweet also highlighted the attacks on American troops by Iran and its proxies in the Middle East since January 21, 2023.
Comparison to Previous Waiver
This waiver bears resemblance to a previous decision made by Secretary Blinken earlier this year. In that case, approximately $6 billion from South Korea, intended for Iranian oil imports, was released in exchange for the release of Americans held captive by Tehran. Similarly, the funds in question were transferred to banks in Qatar and strictly earmarked for the purchase of humanitarian supplies.
Conclusion
The United States’ decision to grant a four-month extension to Iraq for the purchase of electricity from Iran has sparked controversy and criticism from Republican lawmakers. While officials remain confident that the funds will be used for essential purposes, concerns over Iran’s proxy activities and regional instability persist. The Biden administration stands by its decision, emphasizing the importance of maintaining Iraq’s energy supply and assuring strict oversight to ensure the allocated funds are utilized appropriately. The situation will undoubtedly continue to be closely monitored by stakeholders invested in regional stability and US-Iran relations.
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