Recent reports claim that President Joe Biden’s administration waived sanctions on Iran, granting the country access to $10 billion in frozen funds. According to the Washington Free Beacon, this decision occurred just days after Donald Trump’s victory in the 2024 presidential election, igniting controversy and bipartisan criticism. Neither the White House nor Iran has commented on the report, leaving room for speculation about the motivations and implications of this alleged move.
What the Report States
The Free Beacon alleges that Secretary of State Antony Blinken authorized the waiver on November 8, just after Trump’s win, citing U.S. national security interests. This move allowed Iraq to transfer approximately $10 billion in frozen payments to Iran for electricity imports.
This isn’t the first time such a waiver has been issued. Joe Biden administration previously extended sanctions waivers in 2023, permitting Iraq to continue purchasing electricity from Iran. At the time, these payments were held in escrow accounts with limited access for Tehran.
Bipartisan Concerns
The decision to issue another waiver has drawn criticism from lawmakers on both sides of the aisle. Many have expressed concern that this financial relief could embolden Iran amidst escalating tensions in the region. Over the past months, U.S.-Iran relations have worsened, particularly after Tehran-backed Houthi forces carried out attacks against American vessels and Israel.
Critics argue that granting financial access to Iran undermines efforts to curb its influence in the Middle East. However, Joe Biden administration has defended the move as necessary for maintaining stability in Iraq, which relies heavily on Iranian electricity imports.
Deputy State Department spokesman Vedant Patel confirmed the waiver, stating:
“We remain committed to reducing Iran’s malign influence in the region. Our viewpoint is that a stable, sovereign, and secure Iraq is critical to these efforts.”
With Trump’s return to the presidency imminent, his incoming administration will face the decision of whether to allow Iran continued access to these funds. This development could significantly impact U.S. policy toward Iran moving forward.
As neither Iran nor the Biden administration has provided clarification, questions linger about the timing and broader implications of this decision. The reported $10 billion relief has sparked fierce debate, reflecting the complexity and high stakes of U.S.-Iran relations in a volatile geopolitical landscape.