The Obama administration misled journalists and lawmakers for more than nine months about a secret agreement to lift international sanctions on a critical funding node of Iran’s ballistic missile program, as part of a broader “ransom” package earlier this year that involved Iran freeing several U.S. hostages, according to U.S. officials and congressional sources apprised of the situation.
The administration agreed to immediately lift global restrictions on Iran’s Bank Sepah—a bank the Treasury Department described in 2007 as the “linchpin of Iran’s missile procurement”–eight years before they were to be lifted under last summer’s comprehensive nuclear agreement. U.S. officials initially described the move as a “goodwill gesture” to Iran.
The United States also agreed to provide Iran $1.7 billion in cash to release or drop charges against 21 Iranians indicted for illegally assisting Tehran. Full details of this secret agreement were kept hidden from Congress and journalists for more than nine months, multiple sources told theWashington Free Beacon.