Report: Obama Admin Gave Iran License to U.S. Financial System

June 6, 2018
REUTERS/Hassan Abdallah/File Photo

A new investigation conducted by the Senate Permanent Subcommittee on Investigations has found that the Obama administration granted a permit that gave the Iranian regime access to the United States financial system.

According to the Associated Press (AP), Iran yearned to convert $5.7 million held up in an Omani bank to dollars and then to euros. They were also complaining that despite the lifting of sanctions under the Iran deal, there were still enough sanctions on the regime that discouraged investment in the country.

The Obama administration had promised that Iran would never have access to the U.S. financial system, so they quietly gave a license that allowed Iran to use two American banks to convert that money.

However, the banks declined to participate out of fear that doing so would harm their reputations.

“Issuing the license was not illegal,” the report states. “Still, it went above and beyond what the Obama administration was required to do under the terms of the nuclear agreement, in which the U.S. and world powers gave Iran billions of dollars in sanctions relief in exchange for curbing its nuclear program.”

Former Obama administration officials argued to the AP that the move “adhered to the spirt of the deal” and that the license did not necessarily grant Iran access to the entire U.S. financial system.

However, Sen. Rob Portman (R-OH) told the AP, “The Obama administration misled the American people and Congress because they were desperate to get a deal with Iran.”

The AP report is the latest controversy to stem from the Iran deal; others include reports that the Obama administration inhibited law enforcement’s efforts to crack down on Hezbollah, Iran’s terror proxy, in order to achieve their desired deal and the administration gave pallets of cash to the regime in exchange for hostages.

President Trump announced in May that the U.S. would be exiting from the deal. Ayatollah Ali Khamenei, Iran’s Supreme Leader, recently announced that Iran has completed a new enrichment centrifuge.

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