The 2 Worst Parts of the Newly-Disclosed ‘Secret’ License Obama Tried to Give Iran The 2 Worst Parts of the Newly-Disclosed ‘Secret’ License Obama Tried to Give Iran – NTK Network

The 2 Worst Parts of the Newly-Disclosed ‘Secret’ License Obama Tried to Give Iran

The license may not have been illegal, but it represents appeasement to a rogue regime and a breach of trust with the American people.

By NTK Staff | 06.06.2018 @9:15am
The 2 Worst Parts of the Newly-Disclosed ‘Secret’ License Obama Tried to Give Iran

The Obama administration secretly tried to give Iran access to $5.7 billion in U.S. dollars, even after assuring the American people that Iran would not have access to U.S. currency under the Iran nuclear deal.

That’s the top revelation of a new Senate subcommittee report, as reported by The Associated Press on Wednesday.

AP‘s Josh Lederman and Matthew Lee wrote:

The report by the Senate Permanent Subcommittee on Investigations revealed that under President Barack Obama, the Treasury Department issued a license in February 2016, never previously disclosed, that would have allowed Iran to convert $5.7 billion it held at a bank in Oman from Omani rials into euros by exchanging them first into U.S. dollars. If the Omani bank had allowed the exchange without such a license, it would have violated sanctions that bar Iran from transactions that touch the U.S. financial system.

The effort was unsuccessful because American banks — themselves afraid of running afoul of U.S. sanctions — declined to participate. The Obama administration approached two U.S. banks to facilitate the conversion, the report said, but both refused, citing the reputational risk of doing business with or for Iran.

The revelation paints U.S. banks as more cautious with a rogue Iranian regime than the White House was.

The AP noted that the effort was not illegal, but there are two concerning takeaways from the report anyway.

THE ADMIN CAVED TO IRAN, AGAIN

The effort to give Iran temporary access to U.S. dollars came after Iran complained about its access to capital after the nuclear deal was signed:

Yet almost immediately after the sanctions relief took effect in January 2016, Iran began to complain that it wasn’t reaping the benefits it had envisioned. Iran argued that other sanctions — such as those linked to human rights, terrorism and missile development — were scaring off potential investors and banks who feared any business with Iran would lead to punishment. The global financial system is heavily intertwined with U.S. banks, making it nearly impossible to conduct many international transactions without touching New York in one way or another.

Of course, as the AP noted, those other sanctions were in place for good reason. The subcommittee’s efforts build off previous reports – including this shocking read from Politico – that the Obama administration secretly gave away much more to Iran in the nuclear deal than they disclosed publicly.

THE ADMIN MISLED AMERICANS

Worse, though, is that the Obama administration assured Americans – including lawmakers – that Iran would not have access to U.S. currency under the deal.

Shortly after the nuclear deal was sealed in July 2015, then-Treasury Secretary Jack Lew testified that even with the sanctions relief, Iran “will continue to be denied access to the world’s largest financial and commercial market.” A month later, one of Lew’s top deputies, Adam Szubin, testified that despite the nuclear deal “Iran will be denied access to the world’s most important market and unable to deal in the world’s most important currency.”

That the secret efforts were not disclosed could be construed as further evidence that the Obama administration had something to hide.

Iran has been back in the news of late, of course. President Trump made a major show last month of pulling the U.S. out of the Iran nuclear deal.

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