×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Skip to main content
Tags: sanctions | iran | oil | spies | kidnapping plot

Report: US Lifts Sanctions on Iran's Oil Sector as Tehran Spies Charged in Kidnapping Plot

antony blinken stands behind podium and speaks into mic
Secretary of State Antony Blinken speaks at the State Department in Washington, D.C., July 12, 2021. (MANUEL BALCE CENETA/POOL/AFP via Getty Images)

By    |   Wednesday, 14 July 2021 11:16 AM EDT

The U.S. earlier this week lifted sanctions on Iran’s oil sector, allowing Tehran to access frozen funds from Japan and South Korea, reports The Washington Free Beacon.

The move came the same day four members of an alleged Iranian spy network were charged with plotting the kidnapping of an Iranian-American journalist and activist based in New York.

The Trump administration last October imposed sweeping economic sanctions on Iran’s Ministry of Petroleum, the National Iranian Oil Company, and an oil-tanker subsidiary for providing financial support to Iran’s Islamic Revolutionary Guards Corps, the military unit designated as a terrorist group by the U.S.

But the Biden administration has been working to revive the 2015 nuclear accord with Iran and earlier this week lifted sanctions on three former Iranian officials and several energy companies amid stalled negotiations, signaling Washington’s willingness to get a deal done.

The waiver on Iran’s oil sector, signed by Secretary of State Antony Blinken, allows for the "transfer of Iranian funds in restricted accounts to exporters in Japan and the Republic of Korea," according to a notification sent to Congress by the State Department.

It also allows frozen Iranian funds to be freed up without violating the law.

"Allowing these funds to be used to repay exporters in these jurisdictions will make those entities whole with respect to the goods and services they exported to Iran, address a recurring irritant in important bilateral relationships, and decrease Iran’s foreign reserves," the waiver states.

A State Department spokesman told the Beacon the waiver “does not allow for the transfer of any funds to Iran.”

Discussions on the nuclear deal are expected to start up again this weekend in Vienna. Trump withdrew from the deal in 2018, calling it one-sided and arguing it supplied Iran with funding directed to its military, militant groups, and weapons program.

His administration’s sanctions helped pitch the country into a deep economic depression.

Richard Goldberg, the former director for countering Iranian weapons of mass destruction on Trump's White House National Security Council, told the Beacon that the waiver will relieve pressure on Iran's economy.

"There’s a reason we talk about accessible foreign exchange reserves versus inaccessible foreign exchange reserves. If you free up money that’s trapped in foreign accounts for Iran to pay off debts, you are bailing out the regime and rescuing the mullahs from a balance of payments crisis," said Goldberg, a senior adviser at the Foundation for Defense of Democracies. "This is a bailout, plain and simple. And to announce it right as DOJ tells us Iran tried to kidnap an American journalist out of New York City — that’s a national outrage."

© 2022 Newsmax. All rights reserved.


Politics
The U.S. earlier this week lifted sanctions on Iran's oil sector, allowing Tehran to access frozen funds from Japan and South Korea. The move came the same day four members of an alleged Iranian spy network...
sanctions, iran, oil, spies, kidnapping plot
439
2021-16-14
Wednesday, 14 July 2021 11:16 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved
Download the NewsmaxTV App
NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved