The Biden-Harris administration gave Iran $10 billion in sanctions relief literally days after Donald Trump won the 2024 presidential election in November.
The move came despite Iran’s support for terrorist organizations and ongoing attacks against Israel.
On November 8, Secretary of State Antony Blinken determined that “it is in the national security interest of the United States” to waive mandatory economic sanctions that bar Iraq from transferring over $10 billion to Iran in electricity import payments.
The Biden State Department tweaked the waiver last year to allow Tehran to convert the funds from Iraqi dinars to euros, then hold those euros in bank accounts based in Oman.
Iran’s access to currencies like the euro allows it to easily spend cash in international markets.
Under Trump, Iran was forced to keep the cash in an escrow account in Baghdad, making it more difficult to access.
According to The Washington Free Beacon, the Biden State Department maintains that Iran is only permitted to use the funds for humanitarian needs, including medicines and other supplies.
Republican critics argue that money is fungible, meaning that Tehran will have an easier time diverting its dwindling cash reserves to its regional terror proxies, such as Hamas, Hezbollah, and the Houthi rebels in Yemen, should it have access to the sanctioned cash for other purposes.
The sanctions waiver also came just days after the United Nations determined that Iran was able to give the Houthi rebels in Yemen “unprecedented” support after the Biden administration waived $6 billion in sanctions on Iran.
The Houthi rebels attacked global commercial shipping through the Red Sea and have launched ballistic missiles at Israeli population centers.
Biden delisted the Iranian-backed rebels as a terrorist group upon taking office in 2021.
Earlier this year, Trump warned Iran that it was playing with fire by continuing to target him following the two assassination attempts against him in July and September this year.
Trump’s remarks came after a meeting with the Office of the Director of National Intelligence (ODNI) regarding “real and specific threats from Iran to assassinate him in an effort to destabilize and sow chaos in the United States.”
“Big threats on my life by Iran,” Trump posted on X. “The entire U.S. Military is watching and waiting.”
“Moves were already made by Iran that didn’t work out, but they will try again. Not a good situation for anyone. I am surrounded by more men, guns, and weapons than I have ever seen before.”
“Thank you to Congress for unanimously approving far more money for Secret Service – Zero ‘NO’ Votes, strictly bipartisan,” he added.
“Nice to see Republicans and Democrats get together on something. An attack on a former President is a Death Wish for the attacker!”
