The Biden administration is reportedly considering granting Iran access to $10 billion in frozen funds currently held in Iraq, on top of the tens of billions which have already been released.
The initial sanctions relief was issued in July, with the money supposedly representing payments made by Iraq to Iran for electricity services.
“The Biden administration may approve a sanctions waiver on Tuesday that will allow Iran to access at least $10 billion in previously frozen funds held in Iraq,” Tasnim News stated. (Trending: Judge Issue Major Ruling On Transgender Procedures For Kids)
“According to reports, Governor of the Central Bank of Iran (CBI) Mohammad Reza Farzin held talks with his Omani counterpart last month on the acceleration of Iran’s access to its financial resources.”
“The Trump administration first allowed Iraq to import electricity and gas from Iran, but only on the condition that the payments were kept in an escrow account in Baghdad,” Free Beacon noted.
“The Biden administration continued to issue that waiver, and then broadened it in July so that Iraq could move more than $10 billion outside the country, enabling Tehran to draw on the funds for its budget and humanitarian needs.”
“This is not a ransom,” White House National Security Council Coordinator for Strategic Communications John Kirby said.
The move has faced increased scrutiny following a Hamas attack on Israel, as Iran is a significant state sponsor of terrorism, providing funding to groups such as Hamas and Hezbollah.
Despite evidence of coordination between Iran and these groups, the Biden administration has granted over $50 billion in sanctions relief to Iran, and also lifted sanctions on Iran’s allies, including the Houthi movement in Yemen and Venezuela.
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