Vance ‘confident’ Treasury can waive Iran oil sanctions without Congress
Vance said a Justice Department opinion backs temporary sanctions relief, while lawmakers questioned the $300 billion reconstruction fund and the lack of congressional review.
- Vice President JD Vance stated Thursday that the White House can temporarily lift oil sanctions on Iran without congressional approval, citing a confident Office of Legal Counsel opinion.
- President Donald Trump and Iranian President Masoud Pezeshkian signed a 14-point memorandum Wednesday aimed at ending the war and restoring traffic through the Strait of Hormuz, which includes oil waivers and a proposed $300 billion reconstruction fund.
- The $300 billion fund faces legal obstacles because the State Department determined Iran's construction sector is controlled by the Islamic Revolutionary Guard Corps; under the Iran Freedom and Counter-Proliferation Act, sanctions waivers require renewal every 180 days.
- Senate Armed Services Chairman Roger Wicker criticized the plan Thursday, stating the $300 billion fund would make Iran's payoff under President Obama's 2015 deal "look like a pittance by comparison" after lawmakers noted they had not seen the agreement before the signing in France.
- Analyst Maleki suggested Congress is "unavoidable for a durable version" of the investment fund, noting the project is "not something you can really set up" under current sanctions despite the president's unilateral authority to ease some restrictions.
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17 Articles
The Toronto Star
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Vance 'confident' Trump can lift Iran oil sanctions without Congress
Vice President JD Vance argued that the White House can lift oil sanctions against Iran without the approval of Congress, as Republicans express concern over the economic relief listed in a newly signed peace deal.
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