Biden Admin Renews Iran Sanctions Waiver Unlocking Upwards of $10 Billion
Sanctions waiver for Iraq to transfer electricity payments to Iran reapproved by Biden administration.
- Bilawal Riaz
- 1 min read
The Biden administration reapproved a sanctions waiver allowing Iraq to transfer electricity payments to Iran through third-party countries, unlocking over $10 billion in frozen funds for the Iranian government. The waiver has faced strong opposition from GOP lawmakers who argue it provides financial support to the hardline Iranian regime, potentially enabling funding for terrorism. While the State Department insists the funds can only be used for humanitarian purposes, critics argue the money is fungible and could be redirected towards illicit activities. The waiver’s supporters emphasize its importance for Iraq’s energy needs and debt repayment to Iran.