Dylan Housman
Deputy News Editor
October 17, 2023 12:32 PM ET
President Joe Biden’s nominee to be Ambassador to Israel, Jack Lew, oversaw the infamous “pallets of cash” transfer of funds to Iran while serving as former President Barack Obama’s Treasury Secretary in 2016.
The Obama administration paid Iran nearly $2 billion in January of 2016 to resolve a dispute dating back to the 1970’s, in which the U.S.-backed Shah government in Iran purchased $400 million of military equipment from Washington. The equipment was never delivered due to the 1979 Islamic Revolution, and Obama paid back the $400 million to Tehran plus $1.3 billion in interest.
As Treasury Secretary, Lew oversaw the transfer of the initial $400 million payment on Jan. 17, 2016, which was delivered in the now-infamous form of foreign cash carried on a number of pallets by aircraft. The “pallets of cash” incident became a frequent line of critique for those who opposed Obama’s policy toward Iran, which involved lifting sanctions and negotiating a diplomatic agreement aimed at curbing the development of Tehran’s nuclear program.
The money for Iran came from a Treasury Department fund known as the “Judgement Fund,” which is money set aside by Congress to settle litigation disputes.
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https://dailycaller.com/2023/10/17/jacob-jack-lew-iran-deal-payment-israel-ambassador-joe-biden/
