Biden Administration Extends $10 Billion Sanctions Waiver for Iran After Election

The waiver, renewed days after Trump's election victory, allows Iran access to funds from Iraq for humanitarian trade but faces strong Republican opposition.

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.