Trump seizes upon Obama-era license aimed at helping Iran

June 07, 2018 - 11:58 am

WASHINGTON (AP) — President Donald Trump is seizing upon an investigation by Senate Republicans that found the Obama administration secretly tried to give Iran brief access to the U.S. financial system by sidestepping U.S. sanctions in place after the 2015 nuclear deal.

Trump writes on Twitter — incorrectly — "This is totally illegal" and is calling for an investigation.

But the plan failed when two U.S. banks refused to participate. And the Obama Treasury Department's issuing of a license to allow Iran to convert $5.7 billion it held at a bank in Oman was not illegal.

Senate Republicans say the Obama administration misled the American people because it had promised Congress that Iran wouldn't gain access to America's financial system. Trump withdrew from the landmark Iran nuclear deal last month.

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