It looks like Obama loved flooding the Middle East with money. And none of it was done with any kind of transparency. While Americans knew of the deal in which pallets of cash were flown to Iraq in the middle of the night, the Obama administration was also wheeling and dealing to allow Iran to use our banking systems to convert money into their own currency to euros. … You’re welcome, Iran. And sorry, America. You weren’t ever supposed to find out about that.
FOX News has the dirty details.
“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 …,’” the draft report said. “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 Obama administration during the negotiation of the Iran deal misled the American people,” said Sen. Rob Portman (R-Ohio), subcommittee chairman. “I think they did so because they were desperate to get a deal.”
When the nations involved in the Iran nuclear agreement implemented the deal, Iran had $5.7 billion in assets at Bank Muscat in Muscat, Oman, maintained as Omani rials, according to the subcommittee. Iran wanted to access that money, and using the U.S. financial system to convert it “was the most efficient means, even though U.S. sanctions prohibited it,” according to the report.
So, sanctions and financially freezing out the Iranian government in order to get a nuclear deal in place isn’t as much fun as laundering money for them.