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Jack Lew Issues Strong Defense Of Admin’s Iran Policy at AIPAC Conference

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Treasury Secretary Jack Lew, the first Obama administration official to speak before this year’s American Israel Public Affairs Committee conference in Washington received a muted reception Sunday night as he tried to convince the crowd that Iran will hardly reap any benefit from its sanctions relief.
Treasury Secretary Jack Lew, the first Obama administration official to speak before this year’s American Israel Public Affairs Committee conference in Washington received a muted reception Sunday night as he tried to convince the crowd that Iran will hardly reap any benefit from its sanctions relief.
Treasury Secretary Jack Lew issued a strong defense on Sunday of the Obama administration’s policy on Iran. In a speech before AIPAC’s policy conference, Lew argued that the mild relief Iran has received in the interim agreement will not lead to Iran’s economic recovery or collapse the current sanctions regime on Tehran.

“In the next two days or so, you may hear some say that the very narrow relief in the interim agreement has unraveled the sanctions regime or eased the chokehold on Iran’s economy. Nothing could be further from the truth,” said Lew. “When you consider the ongoing sanctions that remain in place, the temporary, targeted, and reversible sanctions relief is extremely limited—totaling an estimated $7 billion. To put that into context, during the same six month period, Iran will lose roughly $30 billion in oil sales alone from the sanctions that remain in place.”

Lew emphasized that the relief offered to Iran will not enable its economy to recover from the deep economic damage inflicted by the sanctions program. “I want to underscore that Iran’s access to this limited relief is neither immediate nor instantaneous,” he said. “It will be provided in separate installments on a rolling basis over the six-month period of the Joint Plan, and it will only flow if Iran demonstrates week by week that it continues to comply with its agreement to freeze and rollback its enrichment program.”

“Iran’s economy suffered a serious blow from sanctions, and the impact of sanctions is not being reversed. Iran’s economy remains in the same state of distress that brought the government to the table in the first place,” Lew added. “What this relief will do is give the people of Iran and their leaders a small taste of how things could improve if they were to take the steps necessary to join the community of nations. This is a choice for Iran to make. If it wants to pull its economy out of the deep hole it is in, it must remove any doubt that its nuclear program is peaceful and come to a comprehensive agreement with the international community. Until then, we will remain steadfast in our enforcement of U.S. and international sanctions.”

Lew further urged AIPAC not to push on the capitol for new sanctions. “We do not believe that now is the time to adopt new sanctions legislation,” said Lew. “We do not need new sanctions now – the sanctions in place are working to bring Iran to the negotiating table and passing new sanctions now could derail the talks that are underway and splinter the international cooperation that has made our sanctions regime so effective. But as I have said, and as President Obama has said, we continue to consult closely with Congress, and if these talks fail, we will be the first to seek even tougher sanctions.”

“Even though I have said this before, it bears repeating: Iran is not open for business. Have no doubt, we are well aware that business people have been talking to the Iranians. We have been very clear that the moment those talks turn into improper deals, we will respond with speed and force. Anyone who violates our sanctions will face severe penalties. Our vigilance has not, cannot, and will not falter,” Lew concluded to tepid applause.

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