McCarthy Urges Biden to Refreeze $6B of Iranian Funds Amid Israel-Hamas Conflict
Former Speaker Kevin McCarthy (R-Calif.) has called on President Biden to refreeze $6 billion in Iranian funds following the recent attacks on Israel by Hamas. McCarthy criticized the Biden administration's decision to unfreeze these funds as part of a prisoner exchange deal with Iran, which secured the release of five wrongfully detained American citizens.
In a detailed address, McCarthy presented a five-step plan to address the escalating Israel conflict. He stated, “Biden’s policy on appeasement, including money for hostage deals, must come to an end. His policy has only emboldened terrorists.” He further emphasized that the U.S. should reinstate the maximum pressure campaign against Iran, suggesting that refreezing the $6 billion is just the beginning.
The decision to unfreeze the funds has been a point of contention, with critics arguing that it could indirectly support Iran's military endeavors and terrorism. McCarthy also highlighted the importance of ensuring the safety of any Americans potentially taken as hostages.
Drawing attention to the changing global landscape, McCarthy remarked, “Three years ago there was not war in Europe or in Israel, but today there is.” He also alluded to his potential return to the Speakership amidst the ongoing conflict in Israel.
Secretary of State Antony Blinken defended the administration's decision, clarifying that the funds in question were Iranian resources from oil sales, frozen in a South Korean bank. He stressed that these funds were always intended for humanitarian purposes, such as food and medicine.
The prisoner deal saw the Biden administration grant clemency to five Iranians and approve the transfer of $6 billion from Iranian oil sales, previously frozen in South Korea, to a Qatari bank. These funds had been frozen due to deteriorating U.S.-Iran relations.
Deputy national security adviser, Jonathan Finer, acknowledged Iran's indirect role in supporting and training Hamas but stated that there was no evidence of Tehran's direct involvement in the recent attacks on Israel. He emphasized, “In terms of broad complicity, we are very clear about a role for Iran.”