As detailed in a new report from government watchdog organization Open the Books, President Joe Biden has “allowed the sale of Iranian oil worth approximately $40 billion” and has “allowed the sale of electricity in Iraq, bringing in an estimated $10 billion to the regime.” Last month, officials cleared the way for the release of an additional $6 billion in frozen Iranian assets as part of a deal to release five American citizens held hostage. However, after the Islamic militant group Hamas — which U.S. officials say received weapons and training from Iran — carried out a bloody terrorist attack against Israel on Oct. 7, the administration backtracked and will no longer allow Iran access to the funds. White House National Security Advisor Jake Sullivan told reporters, “We've said since the beginning that Iran is complicit in a broad sense because they have provided the lion's share of the funding for the military wing of Hamas, they've provided training, they have provided capabilities, they have provided support and they've had engagement and contact with Hamas over years and years, and all of that that has played a role in contributing to what we have seen.” The U.S. State Department has designated Iran a state sponsor of terror since 1984. Per the Department’s latest Country Reports on Terrorism, Iran continues to support acts of terrorism in Bahrain, Iraq, Lebanon, Syria, and Yemen through proxies and partner organizations including Hezbollah and Hamas. Since Biden took office as president, Iran has increased “oil exports by about 1.5 million barrels a day,” according to the Committee to Unleash Prosperity. This overlaps with a two to three million barrel-per-day drop in U.S. oil production because of Biden’s anti-fossil fuel policies, the group said. “This has put roughly $40 billion more into the coffers of the Iranian government. Terrorists can buy a lot of rockets with that much money,” the group said in the report. The loosening of oil sanctions placed on Iran significantly elevated the country’s financial position, allowing it to provide more backing for terrorist proxies, according to the Wall Street Journal (WSJ) Editorial Board, which said, “there’s no question the U.S. decision to ease enforcement of oil sanctions against Iran has aided Israel’s enemies.”The Biden administration has directly or indirectly pumped more than $50 billion into the coffers of Iranian Mullahs who operate the world’s largest state sponsor of terrorism.
