President trumped announced the U.S. Would certainly leave the Iran nuclear transaction on may 8. But his reasoning wasn't all accurate. (Meg Kelly/The Washington Post)

“The Democrats and President Obama offered Iran 150 exchange rate Dollars and also got nothing, yet they can’t give 5 exchange rate Dollars for nationwide Security and a Wall?”

This is an egregious version of a case that president Trump has made consistently — about 30 times, follow to our database that Trump’s false and misleading claims. We had actually originally looked right into the details of the $150 billion for a fact check during chairman Barack Obama’s administration, fact-checked the insurance claim during the 2016 presidential debates and noted it in roundups of various Trump news conferences and interviews.

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Somehow it’s never been put to the Pinocchio Test. However if the chairman is going come keep gaining this wrong, it’s time to provide this falsehood a Pinocchio rating.

There are two numbers that Trump loves to reference when stating the global nuclear agreement negotiated through Iran as soon as Obama to be president: $150 billion and $1.7 billion. The last was a cash transaction, said to be the negotiation of a long-standing Iranian claim versus the united States, through interest, the was curiously time to arrive once Iran released 4 detained Americans. (We disputed this payment at length in this truth check.)

Trump might have grounds come complain around the situations of the $1.7 billion cash transaction. But he’s all wet about the $150 billion claim, specifically when he says it to be taxpayer money. That’s definitely what that did in this tweet, questioning why Democrats will not agree to ideal $5 billion because that a wall on the southern border through Mexico when they “gave Iran 150 exchange rate Dollars.”

But unlike the cash deal, this was no U.S. Money. It was Iran’s money, frozen in global financial institutions roughly the world since of penalty intended come curb Iran’s atom ambitions. Because that instance, plenty of of the accumulation were hosted in financial institutions in Asia, consisting of China and also India, as well as Turkey. Many of the countries received waivers come buy Iranian oil and also gas during the sanctions but placed the payment in escrow-style accounts that remained off-limits come Iran. The Islamic Republic likewise transferred legacy to oriental banks indigenous Europe in anticipation of financial sanctions.

On optimal of that, Trump’s repeated use that the $150 billion number is off-base. The was an upper-range estimate, but the Treasury room said lot of that was not liquid. Once Iran fulfills various other obligations, it would have around $55 billion left, Treasury said.

“Estimates that total main Bank the Iran (CBI) international exchange assets an international are in the range of $100 come $125 billion,” Adam J. Szubin, exhilaration Treasury undersecretary because that terrorism and also financial intelligence, told congress in 2015. “Our assessment is the Iran’s usable fluid assets after sanctions relief will be lot lower, at a little an ext than $50 billion. The other $50-70 exchange rate of complete CBI foreign exchange assets space either obligated in illiquid tasks (such together over 50 projects with China) the cannot it is in monetized quickly, if at all, or space composed of exceptional loans to Iranian entities the cannot repay them. This assets would certainly not become available following sanctions relief.”

Nader Habibi, a professor of business economics at Brandeis University’s Crown facility for Middle eastern Studies, go his very own calculation of Iran’s frozen assets in 2015. He detailed that $10 billion was in Iraqi banks and also could not be recovered quickly and that almost $25 billion was deposited in Chinese financial institutions as collateral for number of Chinese invest in Iran. He approximated that only about $29 billion would certainly be available to Iran for prompt use. In paper definition of Iran’s oil revenue, he wrote, “$29 billion of released accumulation doesn’t lot to the much and represents only fifty percent of Iran’s existing oil fiddle revenue.”

We must note that Trump stated Obama “got nothing” in exchange because that lifting penalty as part of the atom agreement. Probably that’s a matter of opinion, but experts stated that Iran was generally in compliance with the agreement when Trump decided to terminate it.

Trump’s usage of the $150 billion continues to it is in problematic. The was a luxury estimate, and also the really number obtainable to Iran shows up to have actually been in between $25 billion and also $50 billion.

But even much more troubling, Trump suggests this to be taxpayer money. In the tweet, the explicitly compared it come a congressional appropriation. That’s just flat wrong — and worthy of 4 Pinocchios.

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“The Democrats and President Obama gave Iran 150 exchange rate Dollars and got nothing, however they can’t offer 5 exchange rate Dollars for national Security and also a Wall?”

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