President Trump on Thursday called for an investigation into allegations that the Obama administration tried to give Iran access to the U.S. financial system by sidestepping sanctions.
“The Obama Administration is now accused of trying to give Iran secret access to the financial system of the United States. This is totally illegal,” Trump tweeted.
A draft report by the Senate’s Permanent Subcommittee on Investigations found that, in early 2016, the Obama Treasury Department issued a license to Bank Muscat to authorize the conversion of Iran’s rials to euros through “any United States depository institution.”
According to the subcommittee, Iran had $5.7 billion in assets in the Omani bank, and wanted to convert it via the U.S. financial system as it was the most efficient means, “even though U.S. sanctions prohibited it,” according to the report.