The Biden administration renewed a $10 billion sanctions waiver for Iran two days after Election Day. The renewed waiver allows certain transactions with Iran to proceed to ensure a stable supply of energy.
This decision may affect future negotiations regarding Iran’s nuclear program, reflecting a broader strategy in U.S.-Iran relations. In the waiver, Iran is allowed to access some funds out of neighboring Iraq, for electricity purchases. The extension has been signed to cover 120 additional days, which will overlap with some of Trump’s time in office.