Iran Hasn’t Spent the $6 Billion of Frozen Funds

( – The Biden administration has denied allegations that it helped fund the terror attack on Israel and insists the $6 billion made available to Iran in a recent prisoner exchange has not yet been spent. The funds, which Secretary of State Antony Blinken told lawmakers were raised through the sale of Iranian oil, were held in a bank in South Korea until the US government lifted sanctions in October and allowed the Iranian regime to access them for “humanitarian” purposes.

Hitting back against claims that Iran may have used the funds to arm Hamas, Blinken said, “As of now, not a single dollar has been spent.” The Secretary of State furthermore told lawmakers that there is no evidence that Iran had any hand in the attack that killed hundreds of Israeli civilians and led to a declaration of war by Prime Minister Benjamin Netanyahu.

In September, Iran released five US citizens from its prisons in exchange for releasing Iranian prisoners in the US and access to the funds. Critics said the money would make its way to terror groups, while the government insisted it could only be used for humanitarian purposes. The Iranian regime, however, said it would use the funds however it wished.

Iran’s government has been subject to a slew of sanctions by the West since the emergence of the Islamic regime in 1979. The US first designated the country as a sponsor of terror in 1984, and Israeli Defense Minister Yoav Gallant said it provides $100 million to Hamas every year, as well as $700 to fellow terror group Hezbollah. Iran also provides equipment and training to the terrorists and has openly declared its contempt for Israel and its intention to wipe the Jewish state from the map.

Former House Speaker Kevin McCarthy called upon President Biden to reverse the decision to unfreeze the funds, labeling it a “policy of appeasement.” McCarthy accused the President of emboldening terrorists and helping their cause.

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