Senator Seeks Accounting of Iranian Assets Blocked by US Sanctions

The ranking member of the Senate Banking Committee said April 12 that he has asked the Treasury Department to provide “an accounting of all international high-value Iranian assets around the world that are currently blocked by U.S. sanctions.”

Sen. Tim Scott, R-S.C., said he also asked the department to describe “additional steps Treasury will now take to actively account for current funds that have already been released to Iran.” Scott made both requests in an April 11 letter to Treasury Secretary Janet Yellen.

Scott reiterated his view that the Biden administration’s recent renewal of an Iran sanctions waiver will help Tehran fund terrorism (see 2404040044). The administration has countered that Iran sanctions waivers facilitate humanitarian transactions, such as purchases of food, medicine and medical devices.

Sanctioned Iranian funds include $10 billion held in Oman and $6 billion held in Qatar. Administration officials said in December that two humanitarian transactions had been facilitated by the $10 billion fund and none by the $6 billion fund (see 2312140056).