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GOP Senate report says Obama officials gave Iran access to US financial system

A new Senate GOP-authored report alleges that top officials in the Obama administration secretly authorized Iran to convert assets to the U.S. dollar, even after the officials repeatedly assured Congress that no such financial transactions would take place under the 2015 nuclear deal.

Ohio Sen. Rob Portman (R), chairman of the Permanent Subcommittee on Investigations (PSI), unveiled the new report on Wednesday, claiming top government officials granted a “license” that would allow the conversion of Iranian assets worth billions of U.S. dollars through the U.S. financial system. 

“Senior U.S. government officials repeatedly testified to Congress that Iranian access to the U.S. financial system was not on the table or part of any deal,” the report reads.

“Despite these claims, the U.S. Department of the Treasury, at the direction of the U.S. State Department, granted a specific license that authorized a conversion of Iranian assets worth billions of U.S. dollars using the U.S. financial system,” it continues.

The transactions didn’t go through, however, because two U.S. banks refused to comply with the administration’s request to convert the money over legal and reputational concerns, the report says.

The report cites multiple instances where top officials like Treasury Secretary Jack Lew pledged before Congress and the public that Iran would not have access to the U.S. financial system, both before and after authorizing the license.

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