US Lawmaker Investigates Biden Administration Over $1 Billion Iran Ransom Payment

A Republican legislator on the House Financial Services Committee is probing the Biden administration to come clean about its suspected role in facilitating a $1 billion ransom payment to Iran as part of an effort to secure the release of a South Korean oil tanker that Tehran has been holding hostage, according to the Washington Free Beacon.

Rep. Bryan Steil (R-WI) petitioned Treasury Secretary Janet Yellen earlier this week to provide him and other lawmakers about the alleged US role in waiving terrorism sanctions on Iran so that South Korea could complete a multi-billion dollar payment.

Seoul and Tehran have been locked in a diplomatic dispute since the South Koreans, fearing blowback from former President Donald Trump, refused to release some $7-9 billion of oil revenues, following the imposition of US sanctions.

In January, Islamic Revolutionary Guard Corps (IRGC) commandos stormed a South Korean-flagged tanker in the Straits of Hormuz, taking the 20-man crew hostage. The Iranians excused their actions as concern the tanker was a pollution hazard, although this was widely disbelieved.

In late February, it was announced that South Korea would pay $1 billion of the $7-9 billion that is tied up in two of the country’s banks, following what was termed “consultations with the United States.” As a result, Iran released 19 crew members but retained the captain to likely use as leverage in future negotiations.

Read more at i24NEWS.

{Matzav.com}