The Biden administration is issuing a blanket waiver for international banks to transfer $6 billion in frozen Iranian money from South Korea to Qatar without fear of U.S. sanctions.
U.S. Secretary of State Antony Blinken speaks during a business roundtable meeting at the Government Office in Hanoi, Vietnam, Monday, Sept. 11, 2023.
Secretary of State Antony Blinken signed off on the deal late last week, but Congress was not notified of the decision until Monday, according to the notification, which was obtained by The Associated Press. The waiver means that European, Middle Eastern and Asian banks will not run afoul of U.S. sanctions in converting the money frozen in South Korea and transferring it to Qatar’s central bank, where it will be held for Iran to use for the purchase of humanitarian goods.
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