A Biden-Harris administration report found that its policy of lifting sanctions on Iran has allowed the largest state sponsor of terrorism in the world to make billions of dollars on petroleum, the Daily Caller reported. The regime has flourished after the administration eased up on Trump-era financial restrictions.
Iran was under the thumb of former President Donald Trump thanks to "maximum pressure" sanctions imposed on the nation. Revenue from oil cratered from $65 billion in 2018 to $16 billion in 2020.
The exact opposite has happened under President Joe Biden, according to the 2024 Report on Iranian Petroleum and Petroleum Product Exports from the Department of Energy. As he eased sanctions against Iran, revenue rebounded each year, beginning with his first year in office.
Iran raked in $37 billion in 2021, then $54 billion in 2022, and another $53 billion in 2023. Meanwhile, tensions in the Middle East have increased after Hamas, which is supported and funded by Iran, launched an attack on Israel on Oct. 7, 2023.
The purpose of sanctions is to restrict an unfriendly nation's ability to make money. This is supposed to prevent dangerous nations from launching offensive strikes by cutting off funding.
Unfortunately, Biden ignored that fact and relaxed the sanctions against Iran, which contrasted sharply with his predecessor's policy. While Trump was in office in 2018, Iran produced 527,000 barrels of petroleum and 704,000 barrels of condensate oil for export.
Biden allowed Iran to export 1.3 million barrels in 2023, nearly doubling the output under Trump just five years before. In a statement Wednesday, Richard Goldberg, senior fellow at the Foundation for Defense of Democracies, warns it will only get worse.
"If 2024 follows 2023, that's roughly $200 billion in oil revenue for Iran under the Biden-Harris administration. Annual oil revenue for Iran today is more than 3x higher than under Trump in 2020," Goldberg posted to X, formerly Twitter, Wednesday.
"Totally insane. This is not due to 'sanctions evasion.' This is by design," he added.
Iran has had its hand in the war with Israel following the Oct. 7, 2023 strike against America's ally. However, the Associated Press reported that Iran launched more than 180 ballistic missiles last week in solidarity with Hamas and Hezbollah.
Israel will now have to answer for this offensive even as most of the missiles failed to cause the death and destruction intended. Leaders are discussing exactly what that will entail.
"The question is not whether Israel will retaliate or respond. The question is which way," former Prime Minister Ehud Olmert said to the Associated Press.
In keeping with the theme of helping a state sponsor of terrorism, Biden has discouraged Israel from attacking Iran's nuclear program or the oil industry. It remains to be seen whether Prime Minister Benjamin Netanyahu will listen as he seeks to protect his own people.
Biden has betrayed America and its allies and made the world less safe in the process. Lifting sanctions on Iran has had swift and dire consequences that prove that a Democratic administration makes the world a more dangerous place.
