Biden releases $3 billion in frozen Iranian funds

FPI / March 9, 2021

Cozying up to the world's top state sponsor of terrorism is nothing new for Joe Biden.

In 2016, when Biden was vice president, the Obama administration sent Iran a pallet with millions, if not billions, in unmarked bills in the dead of night in exchange for U.S. prisoners.

Iranian parliament member Alireza Zakani said the Obama/Biden administration gave Iran $1.7 billion in cash, with $400 million in suitcases.

Now that he's back in the White House, Biden's glad tidings toward the brutal regime in Iran are continuing.

Biden agreed to the release $3 billion in Iranian funds that have been frozen in Iraq, Oman and South Korea, Iranian trade official Hamid Hosseini told the semi-official Fars news agency on Sunday.

U.S. sanctions imposed by former President Donald Trump had prevented Iran from accessing tens of billions of its assets in foreign banks.

Biden's move comes despite increasing attacks by Iran-funded Iraqi militias, which reportedly includes a deadly rocket barrage on a U.S.-led coalition base in northern Iraq in February. According to NBC the attack featured at least 14 107mm rockets, a favored weapon supplied by Iran to the militias.

Iranian frozen assets in Iraq amount to more than $6 billion, according to Iranian officials.

The head of the Iran-South Korea Chamber of Commerce said in October Iranian frozen funds in South Korea are worth $8.5 billion and added that their release depended on the outcome of the U.S. presidential election.

The Biden administration revoked snapback sanctions imposed by the Trump administration against Iran and also revoked travel restrictions on senior Iranian diplomats at the United Nations.

Free Press International