Biden admin extends $10B Iran sanctions waiver 2 days after Trump election win

The Biden administration has decided to extend a controversial sanctions waiver that will give Iran access to around $10 billion in payments from Iraq. This move, which allows for humanitarian trade, was made just two days after President-elect Trump won the election. Secretary of State Antony Blinken has once again prolonged the waiver for Iran to access funds from accounts in Iraq and Oman. However, critics from the Republican party argue that granting Iran access to these funds could potentially support terrorism in the Middle East or further develop its nuclear program.

State Department spokesman Vedant Patel confirmed the renewal of Iraq’s electricity waiver for the 23rd time since 2018, for an additional 120 days. The goal behind this waiver is to reduce Iran’s negative influence in the region and promote stability in Iraq. The waiver was initially implemented during the first Trump administration in 2018.

The waiver is set to expire once Trump assumes office in January, raising questions about whether the Trump administration will continue to extend the sanctions relief. House Foreign Affairs Committee Chairman Michael McCaul from Texas has expressed concerns about the waiver, stating that it allows Iran to finance terror groups that have targeted U.S. forces in the Middle East.

Despite the House voting twice to eliminate these waiver authorities, the Biden administration has chosen to continue granting the sanctions waiver to Iran. McCaul emphasized the importance of not supporting Iran’s malicious activities through these waivers, as it provides the regime with more resources to fund terrorism and nuclear ambitions.

It remains to be seen how the Trump administration will address this issue once in office. The decision to extend the sanctions waiver has sparked debate and criticism, with Republicans highlighting the potential consequences of providing Iran with access to significant funds from Iraq. The situation underscores the complex geopolitical challenges faced by the U.S. in the Middle East.

In conclusion, the extension of the sanctions waiver for Iran by the Biden administration has stirred controversy and raised concerns about the implications of providing Iran with access to substantial financial resources. The decision to continue this waiver will have significant implications for regional stability and security. It is crucial for policymakers to carefully consider the potential consequences of such actions and prioritize national security interests in their decision-making process.