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Iran Makes $80 Billion in Illicit Oil Sales Under Biden

The Islamic nation of Iran has made at least $80 billion off of illicit sales of oil since Joe Biden first took power in January of 2021, raising concerns about the regime’s possible funding of terrorist activities.

According to the Washington Free Beacon, the watchdog group United Against a Nuclear Iran (UANI) has been tracking Iran’s oil exports, as well as its fleet of oil tankers, discovering that many of these shipments have gone to China.

“Iran has generated approximately $80 billion in revenue from oil sales under the Biden administration,” said Claire Jungman, a spokeswoman for UANI. Specifically, the nation’s oil exports have reached a five-year high under Biden, primarily due to the administration’s decision to ease many of the economic sanctions that had been placed on Iran by previous administrations. In August of 2022, Iran made roughly $44 billion in oil sales, a 77% increase from during the Trump Administration.

“With the resurgence of Iran’s primary revenue source, oil, into play, it’s paramount to recognize the substantial financial leeway they’ve gained through years of relaxed sanctions,” Jungman continued. “This surplus not only sustained them but also significantly fortified their proxies.”

Most recently, the Biden Administration negotiated a prisoner-swap deal with Iran that included unfreezing at least $6 billion worth of Iranian assets. Roughly one month later, the Islamic terrorist group Hamas carried out the largest and deadliest invasion of Israel in modern history, killing over 1,200 Israelis, with some suggesting that the massive invasion effort may have had external help from a nation such as Iran.

“This isn’t just about a $6 billion hostage deal,” said Richard Goldberg, a former member of the White House National Security Council. “It’s about a $50-plus-billion nuclear protection racket that’s been going on since May.”

Biden’s efforts to embolden Iran have led to bipartisan condemnation. In April, a statement was issued by a coalition of Democrats and Republicans in Congress, led by Senators Joni Ernst (R-Iowa) and Richard Blumenthal (D-Conn.), criticizing the Biden Administration for refusing to let federal agencies seize Iran’s illicit oil tankers, allowing the Islamic nation to continue making money off of such sales.

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About Eric Lendrum

Eric Lendrum graduated from the University of California, Santa Barbara, where he was the Secretary of the College Republicans and the founding chairman of the school’s Young Americans for Freedom chapter. He has interned for Young America’s Foundation, the Heritage Foundation, and the White House, and has worked for numerous campaigns including the 2018 re-election of Congressman Devin Nunes (CA-22). He is currently a co-host of The Right Take podcast.

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