The administration of Democrat President Joe Biden has granted an extension to a sanctions waiver, allowing the release of an additional $10 billion in previously frozen funds for Iran.
As reported by the Associated Press, the four-month extension is intended to provide the Iranian regime access to $10 billion in electricity revenues that were frozen. The Biden administration asserts that the funds will be used for “humanitarian aid” by the terror-linked Islamic dictatorship.
However, experts have consistently cautioned that unfreezing Iran’s funds could bolster Tehran’s financial reserves, enabling the regime to persist in sponsoring terrorism and advancing its nuclear weapons program.
The sanctions waiver specifically permits Iraq to continue procuring electricity services from Iran, according to the AP. This action also grants Tehran access to billions of dollars held in Iraqi banks.
While the Biden administration contends that Iran has spent only a small portion of the existing $10 billion, critics argue that releasing these funds may have broader implications. The Iranian government has reportedly committed to utilizing the funds exclusively for humanitarian relief.
The Iran policy of the Biden administration is completely detached from reality. It takes a uniquely warped ideology to believe it's in America's interest to give Iran $10 billion one month after the worst massacre on Jews since the Holocaust. Sickening.
— Richard Goldberg (@rich_goldberg) November 14, 2023
In September, the Biden administration released $6 billion in Iranian oil revenues that were previously frozen, as reported by Slay News. This unfreezing was a component of a hostage negotiations agreement leading to the release of five American prisoners.
Critics, including foreign policy experts, have criticized the Biden administration for enabling Iran to access frozen funds, arguing that it contributes to the release of cash reserves that can be utilized for other purposes.
Richard Goldberg, a senior advisor at the Foundation for Defense of Democracies, issued a warning on Twitter/X on Tuesday, stating that these funds would potentially support Iran in funding terrorist attacks.
“Biden administration doubles down on giving $10 billion sanctions relief to Iran,” Goldberg said.
“Money is fungible.
“This is 100% budget support for the world’s leading state sponsor of terrorism.”
Biden administration doubles down on giving $10 billion sanctions relief to Iran. Money is fungible. This is 100% budget support for the world's leading state sponsor of terrorism.
AFTER October 7.
AFTER weeks of attacks on US forces.
Congress needs to shut this down ASAP. https://t.co/ilF05nU231
— Richard Goldberg (@rich_goldberg) November 14, 2023