CLAIM: 'Iran was broke under Donald Trump. Now Iran has $300 billion because they took off all the sanctions that I had.'
Fact Check: Mostly false, needs context
Trump claimed that if he was in office, Hamas’ October 7th attack on Israel never would have happened because the terror group’s chief sponsor, Iran, “had no money for terror.” However, Iran has been Hamas’ principal backer for decades, including through the Trump presidency. Records retrieved from inside Gaza by the Israeli Defense Forces and verified by independent news outlets indicate Tehran funneled tens of millions of dollars during the Trump administration. Two of Trump’s top advisers for Middle Eastern affairs also claimed that Iran was supplying Hamas and other Palestinian terror groups with $100 million each year in an op-ed published in 2019.
Trump also said that Iran gained $300 billion because the Biden-Harris administration “took off all the sanctions I had” on Iran.
The current administration has maintained and even levied new sanctions against Iran, but during its attempt to renegotiate an Obama-era nuclear deal that Trump exited in 2018, the U.S. did ease the enforcement of some sanctions and restore a U.N waiver that allowed companies from other countries to conduct non-proliferation work at Iranian nuclear sites.
According to shipping data, Iran’s oil exports—its chief source of revenue—have climbed during the last four years. But experts estimate than Tehran has been able to accrue around $100 billion at most during President Biden’s term, which is substantially less than Trump’s figure of $300 billion.