Just 40 days after the brutal massacre of more than 1,400 Israelis, including 33 Americans on Oct. 7, the Biden administration has extended a sanctions waiver that will allow Iran to access $10 billion in previously frozen funds. The money is tied to neighboring Iraq’s purchase of electricity from the Islamic regime.
The White House waiver gives Iran limited access to the electricity proceeds to buy humanitarian goods, but critics say the money will free up Iran to unleash more global chaos.
Secretary of State Antony Blinken signed the 120-day waiver extension and it was transmitted to Congress on Tuesday, U.S. officials said.
It will keep in place a provision under which portions of the electricity proceeds can be transferred to accounts in Oman and then converted to euros or other widely traded currencies for Iran to buy non-sanctioned products.
The same unnamed officials told the Associated Press the Biden administration believes Iran will not be able to use any of the money for nefarious purposes. They said a rigorous vetting process is in place to ensure that the cash can only be used for food, medicine, medical equipment, and agricultural goods.
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