Skip to comments.Obama-era license aimed to let Iran convert money in dollars
Posted on 06/06/2018 7:54:26 AM PDT by Olog-hai
The Obama administration secretly sought to give Iran access albeit briefly to the U.S. financial system by sidestepping sanctions kept in place after the 2015 nuclear deal, despite repeatedly telling Congress and the public it had no plans to do so.
An investigation by Senate Republicans released Wednesday sheds light on the delicate balance the Obama administration sought to strike after the deal, as it worked to ensure Iran received its promised benefits without playing into the hands of the deals opponents. Amid a tense political climate, Iran hawks in the U.S., Israel and elsewhere argued that the United States was giving far too much to Tehran and that the windfall would be used to fund extremism and other troubling Iranian activity.
The report by the Senate Permanent Subcommittee on Investigations revealed that under President Barack Obama, the Treasury Department issued a license in February 2016, never previously disclosed, that would have allowed Iran to convert $5.7 billion it held at a bank in Oman from Omani rials into euros by exchanging them first into U.S. dollars. If the Omani bank had allowed the exchange without such a license, it would have violated sanctions that bar Iran from transactions that touch the U.S. financial system.
The effort was unsuccessful because American banks themselves afraid of running afoul of U.S. sanctions declined to participate. The Obama administration approached two U.S. banks to facilitate the conversion, the report said, but both refused, citing the reputational risk of doing business with or for Iran.
The Obama administration misled the American people and Congress because they were desperate to get a deal with Iran, said Sen. Rob Portman, R-Ohio, the subcommittees chairman.
(Excerpt) Read more at apnews.com ...
Misled? Cant these people ever use the right word
.Obama LIED to us.
Has the US ever had a traitor as President?
Yes, from 1/2009 to 1/2017.
With all of the recent revelations, Zero may want to seriously consider lawyering up.
They never thought that Hillary would/could lose.
Obama should be hanging from a light standard..... But he will never be forced to pay for his crimes.
What a quaint circumlocution.
What an ugly lie.
The propaganda-spewing Associated Press idiots whose names share the byline, Josh Lederman and Matthew Lee, must have struggled mightily to avoid saying outright that Obama is a serial liar.
These days, that's par for the course for the Associated Press, for whom promotion of leftist ideology by employing deliberate omissions and outright lies is the only 'writing style' that matters.
The AP was once the gold standard in news gathering.
It was not so long ago...
Nixon was threatened with impeachment and resigned for LESS
Indeed he did....
He was born and bred, and rose to power, in the Political Sewers of Chicago.....telling the truth there is not an option.
Q: Anyone know if any European banks were in on this and, if so, which one or ones?
Link to the Senate report.
Wow. See items 12, 13, 14 on page 7.
And who/what converted the rials?
Also see info on “roadshows” that starts on page 20 of the report...
If you get a chance, be sure to read the report. Congress can try to cover its butt, but it must’ve known what was going on. And did NOTHING.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.