International financial institutions get a lot of heat for terror state ties. But this is a case where Obama Inc. tried to get them to do the wrong thing. While they did the right thing.
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.
Yet another Obama dirty deal with Iran that we’re just learning about now. The question is how many more are there? And that’s part of why Spygate is happening. The assault is also a cover-up.
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.
That’s how bad Obama was on Iran. The banking system was more reluctant to help Iran launder money than he was.
Nor was Obama worried about the reputational risk of loading foreign currency on unmarked cargo planes and flying it to Iran.
See the full story here.
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