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The Obama administration is considering relaxing financial restrictions that prevent the use of U.S. dollars in transactions with Iran, according to U.S. officials speaking with the Associated Press.
The Treasury Department has created a general license allowing offshore financial institutions to access U.S. dollars for currency trading in conjuncture with legitimate business transactions with Iran, even though this practice is currently illegal.
Some lawmakers are furious, considering Iran's increasingly belligerent behavior. Moreover, the proposed policy was not part of last year's nuclear agreement signed with Iran.
"These reports are deeply concerning, to say the least...As Iran continues to undermine the spirit of its nuclear agreement with illicit ballistic missile tests, the Obama administration is going out of its way to help Tehran reopen for business. The president should abandon this idea," House Speaker Paul Ryan said Thursday in a statement.
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