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Saturday, June 15, 2024 - 11:54 PM


First Published in 1994


The Biden administration,  last Wednesday, renewed a sanctions waiver that released more than $10 billion in assets previously frozen to the Iranian government, which the U.S. Department of State designated as a state sponsor of terrorism, according to documents submitted to Congress.

The Biden administration has renewed a sanctions waiver allowing Iran to obtain approximately $10 billion from Iraq for electricity, despite recent attacks on U.S. forces by Iranian proxies. This 120-day extension, authorized by Secretary of State Antony Blinken, mirrors a July waiver.

However, this waiver comes in the wake of the Oct. 7 tragedy where 1,200 people in Israel were killed by the Iranian-backed terrorist organization Hamas, and the ongoing conflicts involving Iranian-backed terrorist militia groups in Lebanon, Syria, Iraq, and Yemen.

The waiver permits Iran to access almost $10 billion in escrow accounts in Iraq, designated solely for humanitarian trade, as reported by US officials to the Associated Press. Additionally, the AP noted that the extension enables Iran to move electricity payments to Omani accounts, and facilitating currency conversion for the purchase of non-sanctioned items by the Islamic Republic.

During a press briefing, State Department spokesman Matthew Miller supported the waiver extension, emphasizing that the funds “can only benefit the Iranian people.” He clarified, “They get their hands on zero additional dollars as a result of these waivers. Again, none of these funds are sent to Iran. They are held in third-party accounts outside Iran, and can be used only for humanitarian and other non-sanctionable purposes for the benefits of the Iranian people.”

Miller also contended that Iran’s “destabilizing activities” would persist irrespective of the waiver’s issuance.

Since October 17, Iranian proxies have launched at least 55 attacks on US forces in Iraq and Syria, injuring approximately 59 personnel, according to the Pentagon.

In September, the White House released $6 billion in frozen assets to Iran as part of a deal for the release of five American detainees.