Open Letter to Biden: Releasing $6 Billion for the Freedom of Dual-National Prisoners is a 'Dangerous Precedent'

Republican Senator Kevin Cramer joined his colleagues in the Senate on Monday, August 21, by issuing a statement calling for the Biden administration to answer regarding the release of six billion dollars from the Islamic Republic's oil claims in exchange for the freedom of American dual-national prisoners. Previously, a group of Senate Republicans criticized the Biden administration's decision to release approximately 6 billion dollars of blocked assets to the Islamic Republic in exchange for five American prisoners in a letter signed by 26 senators on August 18. The Senate Republicans, while supporting the release of American citizens who have been unlawfully detained, argue that this action creates a 'dangerous precedent' and strengthens the destabilizing activities of the Islamic Republic in the Middle East. In the open letter from 26 senators, the government is accused of violating the 'no concessions' policy and paying a large ransom of 6 billion dollars to a major state sponsor of terrorism, as well as 'bypassing the U.S. Congress.' According to this statement, Senator Kevin Cramer, expressing serious concern about this government action, addressed Secretary of State Antony Blinken and Treasury Secretary Janet Yellen, calling such actions a 'dangerous precedent' and warning of their consequences. He reflected similar concerns during the release of 400 million dollars under the Obama administration in 2016, emphasizing that providing such a significant amount to a 'terrorism-supporting government' violates the U.S. 'no concessions' policy. Senator Kevin Cramer specified that the 'no concessions' policy dates back to Executive Order 19 of July 19, 2022. This executive order prohibits any rewards to entities that engage in unlawful detention or seek political leverage, endangering international stability and the security of American citizens abroad. According to South Korean media reports, Iran's blocked assets in South Korea were transferred to the Swiss Central Bank last week to be converted to euros and then sent to Qatar. Reuters reported that the process of converting 'won' to dollars and then to euros is time-consuming, stating that over the next five weeks, approximately 300 billion 'won' equivalent to 223.85 million dollars will be converted daily. The blocked dollars of Iran in South Korea amounted to 7 billion dollars, which, according to Mohammad Reza Farzin, the head of the Central Bank, resulted in the loss of one billion dollars due to the conversion of oil dollars to the South Korean currency and the depreciation of the 'won' against the dollar. The Iranian Foreign Ministry announced on Thursday evening, August 10, that it had received the blocked funds from South Korea in exchange for the release of five Iranian-American hostages. U.S. Secretary of State Antony Blinken also stated that Iran can only use the released funds for 'humanitarian' purposes; some users compared this exchange to 'oil for food' under Saddam and deemed it 'humiliating.'