Senators Object to Renewal of Iran Sanctions Waiver

Sen. Tim Scott, R-S.C., the ranking member on the Senate Banking Committee, and 12 other Republican senators criticized the Biden administration’s renewal of an Iran sanctions waiver last month, saying the move will help Tehran fund terrorism.

In an April 3 letter to Treasury Secretary Janet Yellen and Secretary of State Antony Blinken that Scott's office publicly released April 4, the lawmakers also asked the administration to explain why it is making restricted funds available to Iran in euros, which are more valuable to Tehran than local currency. The sanctioned funds include escrow accounts holding Iraqi payments for Iranian electricity.

While declining to comment on the letter, a State Department spokesperson reiterated the administration's view that the waivers facilitate humanitarian transactions, such as purchases of food, medicine and medical devices (see 2312140056). "Longstanding bipartisan U.S. policy for years has sought to ensure that our sanctions do not prevent food and medicine from getting to normal people, no matter how objectionable their governments," the spokesperson said.