In recent developments, the Biden administration is facing heavy criticism for its decision to extend a controversial sanctions waiver, which allows billions of dollars to allegedly flow into Iran. This decision comes at a time when Iranian-backed rebels launched deadly air strikes against American forces, and Iran directly attacked its staunch ally, Israel.

Critics and the Washington Free Beacon have reported that the waiver, initially established in 2018, allows Iraq to pay the Iranian government for electricity services, unlocking up to $10 billion in frozen funds. Last month, the White House extended the waiver, despite calls to end the program due to concerns about transparency and accountability.

The renewed waiver program was set to expire in March, but it was reapproved just six weeks after Iran-backed militants launched a drone attack in Jordan, killing three US service members and injuring dozens more. This past weekend, Iran retaliated by launching 300 drones and missiles at Israel in response to an airstrike in Damascus earlier this month.

The State Department has defended the waivers, stating that they are necessary as Iraq transitions away from Iranian energy imports and develops its own domestic oil and gas production. The government claims that the unfrozen funds can only be used for humanitarian purposes and emphasizes that no funds have been permitted to enter Iran.

However, Republican lawmakers have raised concerns about the lack of transparency and accountability surrounding the funds and their potential use to finance state-sanctioned terrorist operations. A group of 13 Republican senators, led by Senate Banking, Housing, and Urban Affairs Committee Ranking Member Tim Scott, recently wrote a letter calling for an end to the sanction waivers, stating that it is unfathomable to believe that making the funds potentially available to Iran serves US national security interests.

During a hearing, Deputy Treasury Secretary Adewale Adeyemo acknowledged that the funds' fungible nature means they could be used to finance violent activities before reaching Iranians in need. He testified that the Iranian regime has a history of prioritizing its Revolutionary Guard Corps over the well-being of its people, which raises concerns about the humanitarian impact of the funds.

The Biden administration has defended its stance on Iran, citing efforts by the US military to thwart recent attacks and the imposition of over 500 sanctions since taking office. The White House maintains that the waiver program started under the Trump administration and has been renewed 21 times since 2018. They argue that the funds do not go directly to Iran and that US sanctions remain in place to prevent the flow of money to the country.

Critics, however, argue that the administration's policies have emboldened Iran and led to an increase in tensions in the region. Senator Katie Britt accuses President Biden of pursuing a hollow and appeasing foreign policy that enriches Iran, while Senator Tom Cotton alleges that the administration's weak policies have provided Iran with enough cash to launch unprecedented attacks against Israel.

When questioned about the administration's stance on Iran, National Security Council spokesman John Kirby defended President Biden, pointing to the sanctions imposed and resources allocated to the region. Kirby also blamed the previous administration for the current state of Iran's nuclear capabilities.

In the wake of Iran's recent missile and drone attacks, questions arise about the effectiveness of the current approach towards Iran and the possible ramifications on regional stability. As tensions continue to escalate, lawmakers and observers will closely monitor the administration's actions and responses to the ongoing situation.