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Rushing back into the 2015 Joint Comprehensive Plan of Action (JCPOA), also called the Iran nuclear deal,
Wall Street Journal reported the Biden administration is considering lifting terrorism-related sanctions on the Central Bank of Iran. In other words, after promising in congressional testimony for a longer and stronger deal with Iran, Biden’s diplomatic team is instead rushing toward accommodation.
Right away, the regime could receive a payday of around $90 billion the moment Biden ends sanctions. After all, U.S. sanctions tied up $40 billion of oil and condensate sales in Asia and the Middle East while another $50 billion in funds remain inaccessible to the regime. Meanwhile, the restoration of the JCPOA would likely reinvigorate Iran’s oil exports, adding nearly $50 billion per year to the regime’s coffers at today’s market rate. Other economic sanctions would be lifted as well, bolstering the regime’s metals and petrochemicals sectors that are crucial to funding the Islamic Revolutionary Guard Corps’ (IRGC) foreign adventures. Iran’s economy will start to grow again, and it will not take any time for the suitcases of cash to find their way to Hamas or Hezbollah.
The US and European Union both said last week that more work was needed to revive the 2015 deal, while Iranian President Hassan Rouhani said the “negotiations have achieved 60-70 percent progress.”
A senior State Department official told reporters last week that the US provided Iran with an outline of the sanctions it is prepared to remove as part of a mutual return to full compliance with the 2015 nuclear deal.