The Biden administration has renewed a sanctions waiver that will allow Iran to access approximately $10 billion in payments from Iraq. The waiver, which was extended for an additional 120 days, permits Iran to access accounts in Iraq and Oman for humanitarian trade. This move has drawn criticism from Republican lawmakers, who argue that it allows Iran to free up funds for its weapons programs and support for terror groups.
The sanctions waiver was first implemented in 2018 during the Trump administration and has been renewed several times since then. The latest extension came just two days after President-elect Trump emerged victorious in the election. The waiver is set to expire after Trump takes office in January, and it is unclear whether the Trump administration will again extend the sanctions relief.
House Foreign Affairs Committee Chairman Michael McCaul, R-Texas, has argued that the sanctions waiver allows Iran to fund proxy terror groups that have attacked U.S. forces in the Middle East. McCaul has called on the Biden administration to eliminate the waiver authorities and not subsidize Iran’s “malign activities.”
