On Wednesday, the Biden administration reapproved a sanctions waiver that unlocks around $10 billion in frozen funds for the Iranian government, according to a notice reviewed by the Washington Free Beacon.
The renewal of the sanctions waiver allowing Iraq to transfer electricity payments to Iran via third-party countries, despite GOP opposition, was last approved in November and will expire this month. This decision grants Iraq the authority to convert dinars into Euros and transfer payments to Iranian bank accounts in Oman.
The State Department's position that the funds are intended for humanitarian purposes such as food and medicine contrasts with critics' concerns about the fungibility of money and its potential to support Iran's global terrorism operations.
The State Department maintains that the sanctions waiver is necessary to ensure Iraq's access to electricity and its ability to repay debts to Tehran.
Republicans on Capitol Hill argue that the continued use of the sanctions waiver allows Iran to divert funds away from critical humanitarian goods.
Source: The Washington Free Beacon
