Trump calls for a probe into the claims of Obama administration tried to Iran’s access to US banks

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Report: Obama gave Iran access to US Finance

House Financial Services Committee member Rep. Barry Loudermilk weighs in on the report.

President Trump on Thursday called for an investigation into allegations that the Obama administration tried Iran access to the U.S. financial system by circumventing the sanctions.

“The Obama Administration is now accused of, tries to give Iran’s secret access to the financial system of the United States. This is totally tweeted illegally” Trump.

The Obama Administration is now accused of, tries to give Iran’s secret access to the financial system of the United States. This is completely illegal. Maybe we could have the 13 Evil Democrats get to divert some of their energy would call in this “matter” (Comey). Investigate!

— Donald J. Trump (@realDonaldTrump) 7. June 2018

A draft of the report by the Senate Permanent Subcommittee on investigations found that in early 2016, the Obama Treasury Department issued a license by the Bank of Muscat was to authorise the conversion of Iranian rials Euro “United States depository institution”.

After the sub-Committee of the Iran 5.7 billion in the US had values dollars in assets, in the Omani bank, and you wanted to convert it over to the U.S. financial system, as it is the most efficient way, “although the US sanctions it is prohibited,” the report said.

The report says that the government officials said in subsequent testimony to Congress, although, that would Iran not have access to the financial system.


The report noted that the plan failed not only to participate if the two US banks refused, citing the complexity and the unwanted appearance that the processing of Iranian transaction involved.

By itself, the Obama Treasury Department, the issuance of a license is to allow to convert Iran to 5.7 billion US dollars, it is not held at a bank in Oman, was illegal. When the Oman-had the bank allowed the exchange without such a license, it would hurt, sanctions that bar Iran from transactions that touch the U.S. financial system.

But the Senate report’s criticism revived, as the Obama was looking for the administration to place Iran in connection with nuclear energy deal. Trump Thursday, Special Counsel Robert Muller suggested should be looking at this point, the Russia probe.

“Maybe we could have the 13 Evil Democrats get to divert some of your energy to this ‘thing’ (would like to call Comey),” he said. “Investigate!”

The Republicans have pointed out that the revelation as proof that the Obama-administration is “desperate” for the Iran-business.

“The Obama administration misled the American people and the Congress, because they were desperate to make a deal with Iran,” said sen Rob Portman, R-Ohio, the chair of the panel.

But a former administration official disputed the sub-Committee concluded, says the Treasury Department is never Iran authorized access to U.S. investments or markets, carrying out commercial transactions in US dollars or the open correspondent accounts at U.S. banks.

“This license can not be described as” the granting of access to the U.S. financial system,” the former official said. “This license has been in compliance with the JCPOA commitments to Iran with access to the swimming pools, the money held overseas. It was aimed exclusively to the movement of Iran from their own resources stranded on an Omani bank in euros at a European bank, where Iran could then make use of them.”

Fox News’ rich Edson and The Associated Press contributed to this report.


Adam Shaw is a political Reporter and occasional opinion writer for He can be reached here or on Twitter: @AdamShawNY.

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