What happened? According to Iranian officials, the Biden administration reportedly granted a sanctions waiver that allowed $500 million to go to Iran. Though the State Department refused to confirm and the Treasury Department denied it, it would be in line with the administration’s move last month to restore sanctions waivers with the goal of renegotiating the Obama administration’s Iran deal.
Iran and Russia: Iran has become the leading military supporter of Russia's offensive in Ukraine over the last year. It reportedly supplies drones and other ammunition to Russia in exchange for helping Iranians develop their missile program. With President Joe Biden's go-ahead, money flowing into the Iranian regime has the potential to be put to action on the battlefield in Ukraine.
Losing to China: In a geopolitical shock and a blow to American efforts, China successfully restored diplomatic ties between Iran and Saudi Arabia, establishing a new Middle Eastern sphere of influence. China is positioning itself as a more valuable ally than the U.S., wooing Iran and other countries economically with enticing infrastructure funding and favorable trade deals.