Overview

• The Biden administration renewed a sanctions waiver two days after Election Day, granting Iran access to $10 billion held in Iraq for electricity payments.
• The waiver permits Iran to convert funds into foreign currencies via accounts in Oman, raising concerns about potential misuse for terrorism or nuclear activities.
• Republican lawmakers have criticized the decision, arguing it enables Iran to fund proxy groups and destabilize the Middle East.
• The State Department defended the move, citing national security interests and the importance of a stable Iraq for the region's security.
• The waiver, first introduced under the Trump administration in 2018, will expire after President-elect Trump takes office in January, with its future uncertain.