Pay Day for the Mullahs

By Joseph Klein

Iran is receiving $550 million of its frozen oil revenues under the interim nuclear deal the Obama administration has pushed forward with Iran. The United States "helped facilitate the transfer" of the funds to Iran through unnamed foreign banks according to Reuters, citing a U.S. Treasury spokeswoman.  Iran's official IRNA news agency has reported that the $550 million already has been transferred to Iran's Central Bank account in Switzerland. This transfer is just the first installment of the $4.2 billion of blocked Iranian oil revenues held abroad that the U.S. has committed to help unfreeze. [more...]