Go Back   SZONE.US Forums > Current Events > News > The Heritage Foundation

The Heritage Foundation Since its founding in 1973, The Heritage Foundation has served as a research and educational institute -- a think tank -- whose mission is to formulate and promote conservative public policies based on the principles of free enterprise, limited government, individual freedom, traditional American values, and a strong national defense

The Heritage Foundation

Obama Administration Allegedly Let Iran Access US Financial System Because It Was ?De

Views:144
Reply
Thread Tools Search this Thread Rate Thread
  #1  
Unread 06.06.18, 03:57 PM
@Heritage @Heritage is offline
RSS Bot
 
Join Date: 06.09
Posts: 37,108
Obama Administration Allegedly Let Iran Access US Financial System Because It Was ?De

On 06.06.18 12:30 PM posted by Ryan Pickrell

The Obama administration secretly allowed Iran to access the U.S. financial system to convert assets to U.S. dollars, despite repeated assurances that it would not permit such transactions, a new Senate subcommittee report alleges.

“The Obama administration misled the American people and Congress because they were desperate to get a deal with Iran,” Sen. Rob Portman, a Republican from Ohio and chairman of the*Senate’s Permanent Subcommittee on Investigations, said in a statement on the new report,*according*to Fox News. The GOP-authored subcommittee report follows a yearlong investigation into alleged misconduct.



The Obama administration reportedly granted a bank in Oman operating on behalf of Iran a “license” that would permit the conversion of Iranian assets worth around $5.7 million to U.S. dollars and then to euros through the U.S. financial system shortly after the Joint Comprehensive Plan of Action (JCPOA), more commonly known as the Iran nuclear deal, went into effect.

“On Feb. 24, 2016, the Treasury Department issued a specific license to Bank Muscat to authorize the conversion of Iran’s rials to euros through ‘any United States depository institution,” a draft of the Senate report read. “Even after the specific license was issued, U.S. government officials maintained in congressional testimony that Iran would not be granted access to the U.S. financial system.”

The conversion process was apparently prohibited by sanctions, and Obama administration officials, such as former Secretary of the Treasury Jack Lew, reportedly regularly denied that the administration permitted such transactions, The Hill*reports.

“As the Treasury and State Department worked behind the scenes to help Iran access the dollar, the message to Congress remained the same,” the new report read, adding that the message was simple: “The JCPOA did not allow Iran to access the U.S. financial system.”

Iran’s assets were never converted, though, as the Obama administration was reportedly unable to find a compliant American bank to execute the conversion.

A former administration official told Fox News that the Senate subcommittee’s findings are inaccurate, asserting that Iran never had any improper access to the U.S. financial system.

“This specific license was in fulfillment of JCPOA commitments to give Iran access to pools of its money held overseas. It was aimed solely to allow the movement of Iran’s own funds stranded at an Omani bank into euros at a European bank, where Iran could then make use of them,” the former official explained.

President Donald Trump shattered former President Barack Obama’s legacy nuclear deal with Iran in early May when he announced that America will withdraw from the JCPOA, thus fulfilling a campaign promise.

Content created by*The Daily Caller News Foundation*is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities for this original content, email*licensing@dailycallernewsfoundation.org.

The post Obama Administration Allegedly Let Iran Access US Financial System Because It Was ‘Desperate to Get a Deal’ appeared first on The Daily Signal.



https://www.dailysignal.com/2018/06/...to-get-a-deal/
Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Rate This Thread
Rate This Thread:



All times are GMT -8. The time now is 07:32 AM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
Copyright ©2007 - 20017 SZONE.US All rights reserved