The Biden administration extends a $10 billion Iran sanctions waiver two days after the Trump election victory.

The Biden administration has renewed a contentious sanctions waiver, allowing Iran to receive approximately $10 billion in payments from Iraq, two days after President-elect Trump won the election.

Antony Blinken, the Secretary of State, once more prolonged the humanitarian trade waiver, allowing Iran to access funds in Iraq and Oman. Nevertheless, Republican critics contend that granting the Iranian regime access to these funds enables it to finance terrorism in the Middle East or accelerate its nuclear program.

The Department of State renewed Iraq's electricity waiver for the 23rd time since 2018, extending it for an additional 120 days, as confirmed by State Department spokesman Vedant Patel last week.

The Trump administration's stance on reducing Iran's influence in the region remains unchanged. According to the official, a stable, sovereign, and secure Iraq is crucial to achieving this goal. He emphasized that the sanctions waiver, which began in 2018, is still in effect.

The president has the power to temporarily suspend sanctions against Iran under authority granted by Congress.

The waiver, which provides sanctions relief, will expire in January when Trump assumes office. It is uncertain whether the Trump administration will renew the sanctions relief. The Trump transition team did not provide a comment on the matter.

On Tuesday, House Foreign Affairs Committee Chairman Michael McCaul, R-Texas, contended that the sanctions waiver enables Iran to finance proxy terror groups that have targeted American forces in the Middle East.

"Twice, the House voted to eliminate waiver authorities, but the Biden administration continues to waive sanctions, giving more money to the Iranian regime to fund its proxies and nuclear program," McCaul posted on X.

"The U.S. should not be subsidizing Iran’s malign activities."