Obama administration tried secret bank workaround for Iran, new report says
09 June, 2018, 20:33
An Army veteran wounded by an Iran-made bomb slammed the Obama administration in the wake of a report that it granted a license letting Iran access the United States financial system and then misled the public about it.
"Officials repeatedly testified to Congress that Iranian access to the US financial system was not on the table or part of any deal", says the majority report of the Senate Permanent Subcommittee on Investigations. However to be able to entry them rapidly, they sought to alternate the funds for USA first, earlier than changing them to euros.
"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 USA financial system", the AP report added.
Last month, President Donald Trump announced that he was withdrawing from the 2015 deal reached among seven countries after more than two years of negotiations, calling it "a awful, one-sided deal that should have never, ever been made". The report drills down deeper, naming the specific financial institution involved - the Iranian Bank Muscat was allowed to move almost $6 billion through the U.S. marketplace. The banks refused, however.
In July 2015 then-Treasury Secretary Jack Lew told lawmakers Iran "will continue to be denied access to the world's largest financial and commercial market", referring to the U.S.
Wall Street Journal editorial board member Bill McGurn discusses the report that the Obama administration gave Iran brief access to the US financial system.
The findings are at odds with statements from senior Obama White House, State Department and Treasury Department officials who repeatedly said Iran would continue to lack access to the US financial and commercial markets following the implementation of the Iran deal, also known as the Joint Comprehensive Plan of Action (JCPOA). In testimony before the Senate Banking Committee, Under Secretary Adam Szubin doubled down on this false assurance: "Iranian banks will not be able to clear USA dollars through NY, hold correspondent account relationships with US financial institutions, or enter into financing arrangements with USA banks".
The Senate disapproved the deal in September 2015, but not by enough votes to sink it.
And when questioned by lawmakers about the possibility of granting Iran any kind of access to the US financial system, Obama-era officials never volunteered that the specific license for Bank Muscat in Oman had been issued two months earlier.
Could this be LeBron James’ final home game in Cleveland?
That means the Warriors get two chances to bring on an early summer: If they lose Game 4, they'll play host to Game 5 on June 11. Months of weight will lifted off him once the Warriors , who haven't lost four straight games since 2013, are crowned again.
"To be clear, the U.S. Department of Treasury is not working on behalf of Iran to enable Iranian access to U.S. dollars elsewhere in the worldwide financial system, nor are we assisting Iran in gaining access to dollar payment systems outside the U.S. financial system".
Under the Iran deal, formally known as the Joint Comprehensive Plan of Action, Iran was promised access to overseas reserves of its own funds that had been frozen by sanctions.
The banks correctly concluded that a myriad of legal and liability issues prevented their participation - a conclusion the Treasury Department would have been wise to reach itself. "Nevertheless, as a gesture of support for Iran's getting access, we helped on this as we will on other cases". A month later, one of Lew's top deputies, Adam Szubin, testified that despite the nuclear deal "Iran will be denied access to the world's most important market and unable to deal in the world's most important currency". They warned that unless Tehran was willing to give up more, the US shouldn't give Iran anything more than it already had.
USA sanctions block Iran from exchanging the money on its own. "He explained OFAC would only take action in egregious situations".
That same week, the AP reported that the Treasury had prepared a draft of a license that would have given Iran much broader permission to convert its assets from foreign currencies into easier-to-spend currencies like euros, yen or rupees, by first exchanging them for dollars at offshore financial institutions.
The Administration was crystal clear to Congress on this point.
- Informed future negotiations with Iran.
Former Obama administration officials declined to comment for the record.
Verizon has also been touting its upcoming 5G network, which promises to bring faster data speeds to businesses and consumers. The unexpected appointment of Hans Vestberg indicates that Verizon may not acquire a media / content company to rival AT&T.
The destruction of Vacationland was triggered by a 5.6 magnitude natural disaster that hit the summit of the Kilauea volcano . The lava is "enough to cover Manhattan 6.5 feet deep" and fill 11.3 million average dump trucks, it said.
While she says she's troubled by the recent high profile suicides, she is thrilled that people are now talking about the problem. These high-profile deaths come the same week the CDC reported suicide rates in the USA have risen almost 30 percent since 1999.
As president, Barack Obama sat down for some bun cha in Hanoi, Vietnam, with Bourdain in an episode of " Parts Unknown " in 2016. Anthony Bourdain's girlfriend Asia Argento posted a head-scratching image on social media mere hours before he died by suicide .
New Zealand women's cricket team on Friday created history as they posted 490/4 in their allotted 50 overs against Ireland. Ireland leg-spinner Cara Murray conceded the most runs ever in a ODI by taking two wickets for 119 runs.
But there are only 24 hours in any given day, especially when you're in the middle of a multi-million dollar defamation lawsuit. The feelings have been so bad in fact, that CM Punk's love of wrestling seems to have deteriorated all together.
Investigators told the Post that the Chinese Ministry of State Security, a civilian spy agency, carried out the hack. The Navy is investigating the breach along with the Federal Bureau of Investigation, according to the Post .
Victoria's representative denied the rumour telling Harper's Bazaar , "This is nonsense ", when asked about the claims. In addition to their daughter, Harper , they share three other children: Brooklyn , 19, Romeo , 15, and Cruz , 13.
His eighth appearance in a row didn't go well either, and now there's uncertainty where the superstar will play next. Cleveland has battled back from an 11-point deficit to regain the lead in Game 4 of the NBA Finals.
Landing skids enable takeoff from land but are presumably designed for floatation, as the Flyer is meant to be used above water. On its website , Kitty Hawk says the plan is to offer the aircraft as "part of a service similar to an airline or a rideshare".
The CDC said Walmart and Kroger stores in the affected states had removed pre-cut melon linked to the outbreak from their shelves. To date, 60 people infected with the outbreak strain have been reported in five states, including 32 cases in MI .
US reaches deal with China's ZTE, says Wilbur Ross
The company will also need to put $400 million into escrow, money that will be reserved in case ZTE violates the new agreement . ZTE also wanted to be more present in the American smartphone market, but the April shutdown had complicated that plan.
What to do if you suspect someone is suicidal
Researchers found that more than half - 54 percent - of people who died by suicide did not have a known mental health condition. However, data shows more Nevadans under the age of 18 committed suicide this year already, compared to all of last year.
The Earliest Animal Fossil Footprint Record
The tracks are actually older than any fossil of a creature with legs, so scientists are puzzled by what created the footprints. That's hundreds of millions of years before dinosaurs started roaming Earth , about 245 million years ago.
Del Potro directs frustration at Paris spectator
His appetite was audible in the long, trailing groans of effort that echoed around the old concrete stadium. Charmingly, despite Nadal's accomplishments, he's still prone to nerves when he steps on center court here.
Sonos Details New Beam Smart Sound Bar with Amazon Alexa
But looking at the design and Sonos's claims for sound and compatibility, the case for picking the Beam is surprisingly strong. Unfortunately, the company still isn't providing a firm launch date for Google Assistant other than "later this year".
A Game of Thrones Prequel Is Officially Happening
"The series chronicles the world's descent from the golden Age of Heroes into its darkest hour", the show's logline reads. Goldman also wrote the screenplay for Disney's live action version of " The Little Mermaid ", which is now in development.
Watson congratulates Ford and new PC Government
Ford spent most of his career running the family label business, and also served a term on Toronto's city council. The Conservatives, who last ruled in 2003, have a history of deficit reduction while cutting spending and taxes.