• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy GOP senators call on Biden to freeze $6 billion in Iranian ‘ransom’
Economy

GOP senators call on Biden to freeze $6 billion in Iranian ‘ransom’

by October 10, 2023
by October 10, 2023 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

FIRST ON FOX: Amid Israel’s deadly war, a group of Republican senators led by Sen. Marsha Blackburn, R-Tenn, are urging the Biden administration to freeze Iran’s $6 billion in assets that were released to Qatar from South Korean accounts in exchange for American prisoners last month. 

‘To stand by and allow Iran access to these funds as Hamas infiltrates Israel and murders, rapes, and mutilates countless Israelis is unconscionable,’ lawmakers wrote in a letter to Biden Monday evening. 

While the administration said the funds can only be used for humanitarian aid and other resources for Iranian citizens, lawmakers argue that the ‘money is fungible’ — meaning that a unit of currency is interchangeable with another unit of the same value. 

‘Your administration claims these funds are only available for humanitarian use, but money is fungible, and there is a significant risk they could be used to further efforts by Iran or Hamas against Israel,’ they wrote. ‘Moreover, allowing $6 billion to flow into Iran’s economy, even if the purpose is for humanitarian aid, allows the Iranian regime to reallocate even more funds to supporting terrorism.’

The lawmakers added: ‘The State Department should immediately rescind the waivers that allowed Iranian funds to be converted and moved to more accessible bank accounts, as well as work with U.S. ally Qatar to immediately freeze the accounts containing these funds.’

A group of 20 Republicans in the upper chamber, including Blackburn and Sens. Marco Rubio, R-Fla.; Lindsey Graham, R-S.C.; John Thune, R-S.D.; Mike Lee, R-Utah; Rick Scott, R-Fla.; James Lankford, R-Okla.; John Cornyn, R-Texas, and Tom Cotton, R-Ark., among others, signed the letter.

The report comes as nearly 800 casualties have been reported, and 11 Americans have been killed, the U.S. State Department confirmed Monday. 

Blackburn told Fox News Digital in a statement that ‘President Biden is refusing to freeze the $6 billion ransom payment to Iran because he is afraid to admit it was a catalyst for the attacks.’

‘He still has time to limit the damage,’ she said, adding that Biden should immediately freeze the funds. 

Hamas militant terrorists also took more than 100 people hostage when they launched the surprise attack on Saturday. Israeli soldiers, grandmothers, infants and teenagers were all victims of the hostage-taking. 

The deal, which was reached last month, allowed the transfer of Iran’s frozen assets held in a South Korean bank to accounts in Qatar. The administration said the money can only be used for humanitarian purposes and the U.S. will have oversight as to how and when the funds are used. 

However, Hamas spokesperson Ghazi Hamad told the BBC that they had Iran’s support for the attacks, which began Saturday. A bombshell Wall Street Journal report Sunday also said Hamas and Hezbollah helped Iran plan the attack, contradicting the administration’s statements.

Israel formally declared war on Hamas after the attack. President Biden affirmed Israel’s right to defend itself as the Pentagon catapulted assistance to Israel Defense Forces over the weekend. 

In a post Saturday, State Department spokesperson Matt Miller said on X, formerly known as Twitter, that ‘the deal to bring U.S. citizens home from Iran has nothing to do with the horrific attack on Israel.’ 

‘Not a penny has been spent, and when it is, it can only go for humanitarian needs like food and medicine. Anything to the contrary is false,’ Miller wrote.

Fox News Digital has reached out to the White House for comment. 

Jamie Joseph is a writer who covers politics. She leads Fox News Digital coverage of the Senate. 

This post appeared first on FOX NEWS
You Might Also Like
  • Prosecutors drop all charges against Andrew Gillum, former Democratic mayor who lost to Ron DeSantis
  • Black Republican calls out Biden’s ‘real record on race’ in six-figure ad buy to air during CNN debate
  • Why House Republicans should be cooking with gas
  • GOP moves to protect Mount Rushmore from activists looking to rename it or tear it down
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Biden interviewed by special counsel about classified documents
next post
UAE warns Syria to not get involved in Israel-Hamas war: report

You may also like

White House reporter sues Karine Jean-Pierre after losing press pass

August 14, 2023

Wisconsin judge dismisses case against embattled GOP elections official

January 17, 2023

Congress pushes aggressive use of AI in the federal government,...

June 30, 2023

GOP presidential rivals react to Trump civil trial verdict

May 10, 2023

These six battleground states could cost President Biden the White...

December 3, 2023

Brazil’s president says Julian Assange can’t be punished for ‘informing...

September 20, 2023

Trump lead grows following indictment, one factor continues to be...

June 26, 2023

Schumer’s AI regulatory effort slows as ‘weeks’ turn into months

June 24, 2023

Schumer looks to expedite $95 billion Israel, Ukraine aid package...

April 23, 2024

Democrat Josh Shapiro to become Pennsylvania’s 48th governor at Tuesday’s...

January 17, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout, pulls outlook

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025
    • The Unpredictable Stock Market: How to Make Sense of It

      May 8, 2025
    • AMD CEO calls China a ‘large opportunity’ and warns against strict U.S. chip controls

      May 7, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,633 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,339 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,321 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,303 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,186 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout,...

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Experts weigh in on liberal ‘freak...

    April 9, 2024

    DeSantis, Scott, Haley, Pence, rest of...

    July 25, 2023

    WATCH: Biden admin grilled for friendly...

    November 3, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here