Just another lie Barack Obama and crew told America about the Iran deal.
The Obama administration desperate to get a foreign policy win for their hero, allowed the Iranian regime to use the American financial system to launder money, convert Omani rials to dollars so they could be converted to Euros. But smelling a rat U.S. Banks refused to play along.
In April 2016 Matt Lee of the Associated Press discovered that despite assurances Iran would not be allowed to tap into the US financial system Obama was going to allow Iran to dollarize transactions. That is, he would allow Iran to use American banks to convert money into dollars. Then foreign banks would convert the dollars into Euros.
On Wednesday Matt Lee along and Josh Lederman of the Associated Press, reported the April 2016 story did indeed happen:
The Senate Permanent Subcommittee on Investigations revealed that under President Barack Obama, the Treasury Department issued a license in February 2016, never previously disclosed, that would have allowed Iran to convert $5.7 billion it held at a bank in Oman from Omani rials into euros by exchanging them first into U.S. dollars. 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 U.S. financial system,
It also violated promises made by Obama and his flunkies.
The effort was unsuccessful because American banks — themselves afraid of running afoul of U.S. sanctions — declined to participate. The Obama administration approached two U.S. banks to facilitate the conversion, the report said, but both refused, citing the reputational risk of doing business with or for Iran.
“The Obama administration misled the American people and Congress because they were desperate to get a deal with Iran,” said Sen. Rob Portman, R-Ohio, the subcommittee’s chairman.
Beyond making a concession to Iran not part of the deal and misleading the public about Iran not being able to get into the valued American financial system this Obama scheme to allow Iran to access the U.S. Dollar would be called money laundering if an average American did the same thing.
Allowing Iran to convert from Omani rials into Euros by going through the dollar reassure foreign banks of the safety of doing business with Iran because the dollar is a stable currency…