copenlu/druid huggingface dataset:
Claim: “When I came into office, Iran had $70 billion in foreign exchange reserves. … By the time I left, they had nothing. They were broke.” (Donald Trump, 2023-10-23)
Evidence (2022-02-07): President Biden has not lifted most of the sanctions imposed on Iran by his predecessor. Yet the lack of enforcement of existing sanctions, particularly on crude oil exports, has already provided some relief to Iran’s economy. It was brought to the brink of collapse under the previous administration’s "maximum pressure" enforcement of sanctions when oil exports dwindled to estimated lows of less than 0.5 million barrels/day, a small fraction of its pre-sanction volumes. The value of the Iranian rial currency fell by more than half in 2020 alone and the country faced one of its worst budget deficits since the theocracy came into power four decades ago. According to a regional economic survey, the Islamic Republic had only $4 billion of foreign exchange reserves in 2020, down from $122.5 billion in 2018. Last week, a leaked IRGC document warned of social discontent in Iran rising to "a state of explosion" driven by a deteriorating economy beset by years of crippling U.S. sanctions and domestic corruption and mismanagement. [...] In what seems yet another pre-emptive concession to Iran — like the lifting of the "terrorist organization" designation of the Houthis over a year ago — Secretary of State Antony Blinken restored on Friday sanctions waivers which allow foreign companies to work on Iranian civilian nuclear projects and include the unfreezing of an estimated $29 billion in bank accounts overseas. The Trump Administration had rescinded the waivers in 2020.
Claim: “When I came into office, Iran had $70 billion in foreign exchange reserves. … By the time I left, they had nothing. They were broke.” (Donald Trump, 2023-10-23)
Evidence (2024-08-01): Donald Trump stated on August 1, 2024 in a Truth Social post In negotiating releases of Americans held abroad, "(I) gave the opposing country NOTHING — and never any cash." [...] Facebook posts stated on October 18, 2023 in una publicación en Facebook Irán izó una bandera negra y "esto significa un llamado" a la guerra o venganza. [...] Donald Trump stated on October 23, 2023 in remarks at a rally in Derry, N.H.
Claim: “When I came into office, Iran had $70 billion in foreign exchange reserves. … By the time I left, they had nothing. They were broke.” (Donald Trump, 2023-10-23)
Evidence (2015-08-11): Iran’s portfolio of foreign assets is diverse, and the segment that has been frozen as a result of Western and international economic sanctions is spread among several countries and dates from different times. The freeze date for some goes as far back as the 1979 Islamic Revolution. [...] The most detailed and comprehensive account has been provided by the ICB’s deputy director for currency management, Gholamali Kamyab (see the table below). He estimated the total value of Iran’s foreign assets that have been blocked as a result of recent sanctions at $89.6 billion, excluding those in the US whose status won’t change as a result of the agreement. [...] In fact, most of Iran’s foreign assets are in Asia as a result of the country transferring them from European banks to China and other Asian countries between 2006 and 2011 in anticipation of financial sanctions.
Claim: “When I came into office, Iran had $70 billion in foreign exchange reserves. … By the time I left, they had nothing. They were broke.” (Donald Trump, 2023-10-23)
Evidence (2024-04-19): Source: International Monetary Fund Release: Middle East and Central Asia Regional Economic Outlook [...] International Monetary Fund, Gross International Reserves Held by Central Bank for Iran, Islamic Republic of [IRNFAFARUSD], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/IRNFAFARUSD, .
Claim: “When I came into office, Iran had $70 billion in foreign exchange reserves. … By the time I left, they had nothing. They were broke.” (Donald Trump, 2023-10-23)
Evidence (2024-09-30): Iran had an estimated $110 billion in foreign reserves in 2011[128] and balances its external payments by pricing oil at approximately $75 per barrel.[129] As of 2013, only $30 to $50 billion of those reserves are accessible because of current sanctions.[130] Iranian media has questioned the reason behind Iran's government non-repatriation of its foreign reserves before the imposition of the latest round of sanctions and its failure to convert into gold. As a consequence, the Iranian rial lost more than 40% of its value between December 2011 and April 2012.[127] Iran's external and fiscal accounts reflect falling oil prices in FY 2012, but remain in surplus. The current account was expected to reach a surplus of 2.1% of GDP in FY 2012, and the net fiscal balance (after payments to Iran's National Development Fund) will register a surplus of 0.3% of GDP.[68] In 2013 the external debts stood at $7.2 billion down from $17.3 billion in 2012.[131] Overall fiscal deficit is expected to deteriorate to 2.7% of GDP in FY 2016 from 1.7% in 2015.[132] [...] - ^ a b "Iran Foreign reserves". IMF. January 2000. Retrieved May 20, 2020. [...] - ^ Minister: Iran Facing No Problem in Currency Reserves, Revenues Archived April 19, 2012, at the Wayback Machine. Fars News Agency, April 18, 2012. Retrieved May 2, 2012.
Claim: “When I came into office, Iran had $70 billion in foreign exchange reserves. … By the time I left, they had nothing. They were broke.” (Donald Trump, 2023-10-23)
Evidence (2024-06-15): Stand up for the facts! Our only agenda is to publish the truth so you can be an informed participant in democracy. We need your help.
Claim: “When I came into office, Iran had $70 billion in foreign exchange reserves. … By the time I left, they had nothing. They were broke.” (Donald Trump, 2023-10-23)
Evidence (2023-11-06): That’s not "zero." Iran had more than $70 billion in reserves when Trump took office, but the fall was dramatic. In absolute dollars, Trump’s figures understated the scale of the decline; he said it was $70 billion, but it was actually about 60% bigger: $113 billion. [...] Iran’s foreign currency reserves have since risen to about $24 billion, but that remains well below their pre-Trump level. [...] His numbers are off. Iran’s reserves were larger than he said, and they did not fall to zero. But he’s on point about the trend line: Iran’s foreign currency reserves fell from $128 billion in 2015 to $15 billion in 2019, a plunge nearly 60% bigger in absolute dollars than Trump said.
Claim: “When I came into office, Iran had $70 billion in foreign exchange reserves. … By the time I left, they had nothing. They were broke.” (Donald Trump, 2023-10-23)
Evidence (2024-10-01): Instagram posts stated on May 22, 2024 in una publicación en Instagram "Revelan momentos exactos de la caída del helicóptero con el presidente de Iran abordo…". [...] Fact-check: What Trump said about ‘$6 billion to Iran,’ immigration, economy at New Hampshire rally By Matthew Crowley • October 9, 2023 The US freed $6 billion in Iranian money. Did it help fund Hamas’ attack on Israel? By Louis Jacobson • October 9, 2023 Joe Biden End wars in Afghanistan and the Middle East Joe Biden Rejoin Iran nuclear deal Donald Trump Renegotiate the Iran deal Barack Obama Make sure Iran does not get a nuclear weapon Barack Obama Work to persuade the European Union to end credit guarantees to Iran
Claim: “When I came into office, Iran had $70 billion in foreign exchange reserves. … By the time I left, they had nothing. They were broke.” (Donald Trump, 2023-10-23)
Evidence (2023-10-25): McCarthy — the former House speaker, whose spokesperson did not respond to requests for comment — said that "Iran only had $4 billion in the foreign exchange when [Biden] took office. They now have $70 billion." We traced those numbers to a social media post by Robert Greenway, who had been a Trump White House official involved in Iran policy and is now at the Heritage Foundation. He pointed us to a 2021 International Monetary Fund report showing that Iran’s foreign reserves in 2020, during the covid pandemic, were $6 billion. (So McCarthy was in the ballpark with $4 billion.) But for 2023, the IMF estimates that Iran’s foreign currency reserves are $21.1 billion, not $70 billion. Greenway did not respond to a question about why he said it was $70 billion now. The IMF also has an updated estimate for Iran’s foreign currency reserves in 2020: $13.8 billion. So rather than an increase to $70 billion from $6 billion — more than 1,000 percent — the foreign currency reserves have grown about 50 percent, to $21.1 billion from $13.8 billion. The IMF estimates that the reserves will be $24.3 billion in 2024. An Iranian central bank official this month attributed the increase to the growth of oil and non-oil exports.
Claim: “When I came into office, Iran had $70 billion in foreign exchange reserves. … By the time I left, they had nothing. They were broke.” (Donald Trump, 2023-10-23)
Evidence (2024-05-10): Two separate agreements in the fall allowed Iran to access up to $16 billion of its previously frozen assets, including a reported $10 billion as the result of an extension of a Trump-era waiver that allows Iran to access funds for humanitarian purposes. [...] Abram Paley, the State Department deputy special envoy for Iran, said the same thing in December during a House Financial Services Committee hearing. [...] News stories noted the estimated reserve of money that had built up from the sale of energy from Iran to Iraq was about $10 billion.
Claim: “When I came into office, Iran had $70 billion in foreign exchange reserves. … By the time I left, they had nothing. They were broke.” (Donald Trump, 2023-10-23)
Evidence (2023-10-09): Stand up for the facts! [...] In August, the U.S. announced an agreement with Iran to secure freedom for five U.S. citizens who’d been detained in the country. In exchange, the U.S. allowed Iran to access $6 billion of its own funds that had been frozen in South Korean banks since 2019. The money consisted of Iranian oil revenue. Biden administration officials said in multiple TV appearances that the deal could not have hastened or aided the Oct. 7 attack because the money hasn’t been dispersed to Iran yet. Also, they said, the agreement required that Iran only use the funds for humanitarian items, such as medicine and food. But Biden’s critics counter that money is fungible, meaning that the money could be diverted to fund terrorism or simply free up money elsewhere in the Iranian government’s budget to be spent for non-humanitarian needs.
Claim: “When I came into office, Iran had $70 billion in foreign exchange reserves. … By the time I left, they had nothing. They were broke.” (Donald Trump, 2023-10-23)
Evidence (2021-07-12): Recent date from the IMF shows why this theory was persuasive. The IMF’s most recent "Regional Economic Outlook: Middle East and Central Asia," reports that Iran’s "Gross Official Reserves" fell from an average of $70 billion in 2000-2017, and $122.5 billion in 2018, to $12.4 billion in 2019 and an amazing $4 billion in 2020. At that level Iran was on a rough par with countries such as Azerbaijan, Bahrain, Armenia, and Georgia. By contrast, in 2020 Algeria had $46.7 billion in reserves, Iraq had $54.1 billion, Libya $51 billion--and Afghanistan $8.6 billion, twice as much as Iran. What explains the collapse in Iran’s reserves? The "maximum pressure" campaign. And the argument that 'faced with a continuation and even intensification of that campaign, Iran would have had to negotiate' seems entirely reasonable. [...] Whenever we hear that "the maximum pressure campaign failed," we ought to recall that IMF statistic: Iran’s reserves almost disappeared between 2018 and 2020. The Biden policy, which suggests that Iran will concede more while the pressure on it is reduced, is simply illogical. As the old saying goes, hope is not a strategy.
Claim: “When I came into office, Iran had $70 billion in foreign exchange reserves. … By the time I left, they had nothing. They were broke.” (Donald Trump, 2023-10-23)
Evidence (2023-10-24): "China," I said, "If you buy, you’re not going to deal with the United States, so we’re going to tariff you at a level of about 100% in everything you do sell in." I said that to India too. I said it to other nations. That they weren’t buying oil from Iran at all. They weren’t buying any oil, and Iran was not doing well, and the 70 billion that they had was actually I think closer to a 100 billion. It disappeared very rapidly. And if you notice all of the problems, all of the big problems, they all stopped. And I never talked about it during my four years, but look what happened. We didn’t have any attacks in the United States for four years. I never wanted to say it during because I say, "I can’t say it." I wanted to. For two years I wanted to say, "Look how good things are." We had the ban. We had the whole thing banned. They said, "Ph, that’s such a terrible thing, a ban from horrendous, dangerous nations." We had a ban. I think that’s okay, but we didn’t have an attack for four years.
Claim: “When I came into office, Iran had $70 billion in foreign exchange reserves. … By the time I left, they had nothing. They were broke.” (Donald Trump, 2023-10-23)
Evidence (2023-10-15): In the wake of the Hamas attack against Israel, some Republicans said that the Biden administration helped play a role in the violence by unfreezing $6 billion of Iranian oil money in exchange for the release of five American hostages. [...] Ali Vaez, the International Crisis Group's Iran project director, also rejected suggestions that Iran has accessed the $6 billion in unfrozen South Korean funds. [...] Critics, however, say the fact that Iran knows it will have access to that $6 billion allows it to free up other funds to spend.
Claim: “When I came into office, Iran had $70 billion in foreign exchange reserves. … By the time I left, they had nothing. They were broke.” (Donald Trump, 2023-10-23)
Evidence (2023-10-23): That’s not "zero." Iran had more than $70 billion in reserves when Trump took office, but the fall was dramatic. In absolute dollars, Trump’s figures understated the scale of the decline; he said it was $70 billion, but it was actually about 60% bigger: $113 billion. [...] Iran’s foreign currency reserves have since risen to about $24 billion, but that remains well below their pre-Trump level. [...] His numbers are off. Iran’s reserves were larger than he said and they did not fall to zero. But he’s on point about the trend line: Iran’s foreign currency reserves fell from $128 billion in 2015 to $15 billion in 2019, a plunge nearly 60% bigger in absolute dollars than Trump said.
Claim: “When I came into office, Iran had $70 billion in foreign exchange reserves. … By the time I left, they had nothing. They were broke.” (Donald Trump, 2023-10-23)
Evidence (2021-04-28): Biden’s $90 Billion Bailout to Tehran [...] The JCPOA infused Iran with cash. Right before the United States reimposed sanctions in 2018, Iran’s central bank controlled more than $120 billion in foreign exchange reserves. U.S. sanctions locked tens of those billions away in escrow accounts, and financial pressure forced Iran to draw down the accounts that remained open. After only two years of the maximum pressure campaign, Iran was down to a meager $4 billion in reserves. Meanwhile, U.S. energy sanctions cut Iran’s oil exports by more than 2 million barrels per day, depriving the regime of $70 billion that typically funds its budget. The massive reversal of fortunes left Iran with barely any economic options, and the regime was forced to cut payments to its regional terror proxies. While Iran fended off collapse, much of the rest of the Middle East breathed a sigh of relief. Several countries in the region made historic peace with one another. Progress made by the Abraham Accords—which were struck in August 2020 by Israel, the United Arab Emirates, and the United States—were contagious.
Claim: “When I came into office, Iran had $70 billion in foreign exchange reserves. … By the time I left, they had nothing. They were broke.” (Donald Trump, 2023-10-23)
Evidence (2022-12-29): - Economics and Public Finance - View subjects [...] - the Economic Research Service; [...] The State Department must continue to update and strengthen the minimum requirements of fiscal transparency for each government receiving assistance provided by this division.
Claim: “When I came into office, Iran had $70 billion in foreign exchange reserves. … By the time I left, they had nothing. They were broke.” (Donald Trump, 2023-10-23)
Evidence (2024-09-11): FACT-CHECK: Mostly false, needs context [...] 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. [...] 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.
Claim: “When I came into office, Iran had $70 billion in foreign exchange reserves. … By the time I left, they had nothing. They were broke.” (Donald Trump, 2023-10-23)
Evidence (2024-05-31): According to court documents submitted today, BNP Paribas S.A. (BNPP), a global financial institution headquartered in Paris, agreed to enter a guilty plea to conspiring to violate the International Emergency Economic Powers Act (IEEPA) and the Trading with the Enemy Act (TWEA) by processing billions of dollars of transactions through the U.S. financial system on behalf of Sudanese, Iranian, and Cuban entities subject to U.S. economic sanctions. The agreement by the French bank to plead guilty is the first time a global bank has agreed to plead guilty to large-scale, systematic violations of U.S. economic sanctions. [...] The Treasury Department’s Office of Foreign Assets Control has also levied a fine of $963 million, which will be satisfied by payments made to the Department of Justice. [...] Documents associated with this press release are available at: http://www.justice.gov/opa/bnp-paribas.html
Claim: “When I came into office, Iran had $70 billion in foreign exchange reserves. … By the time I left, they had nothing. They were broke.” (Donald Trump, 2023-10-23)
Evidence (2024-08-08): August 24-26, 2019: At the G-7 Summit in France, French President Emmanuel Macron offers a $15 billion credit line to Tehran in exchange for its return to compliance with the JCPOA. Iranian Foreign Minister Javad Zarif also attends the summit. [...] The U.S. Treasury imposes new sanctions on the Central Bank of Iran, the National Development Fund of Iran, and the Etemad Tejarate Pars Co., an Iranian company implicated in concealing the military’s financial transactions. [...] Iranian President Hassan Rouhani states that Iran will return to compliance with its obligations after the United States lifts sanctions and Tehran verifies those sanctions have been lifted.
Claim: “When I came into office, Iran had $70 billion in foreign exchange reserves. … By the time I left, they had nothing. They were broke.” (Donald Trump, 2023-10-23)
Evidence (2013-09-25): Savings and Loan Crisis 1980–1989 [...] National Commission on Financial Institution Reform, Recovery, and Enforcement. Origins and Causes of the S&L Debacle: A Blueprint for Reform: A Report to the President and Congress of the United States. Washington, DC: The Commission, 1993. [...] Written as of November 22, 2013. See disclaimer.
Claim: “When I came into office, Iran had $70 billion in foreign exchange reserves. … By the time I left, they had nothing. They were broke.” (Donald Trump, 2023-10-23)
Evidence (2024-04-08): Policy and strategy matter, and it’s important to be engaged. [...] All these issues can be resolved, though they will take time and need devoted effort. [...] PROVIDING STRONG LEADERSHIP GLOBALLY AND EFFECTIVE POLICY MAKING DOMESTICALLY
Claim: “When I came into office, Iran had $70 billion in foreign exchange reserves. … By the time I left, they had nothing. They were broke.” (Donald Trump, 2023-10-23)
Evidence (2001-01-02): Carter, 100 S. Ct. 533 (1979) (Mem.) Denver journal of international law and policy, v. 9, summer 1980: 239-260. [...] Abdul H. Tabibi \1\ [...] A. Shahi 29 April 1970
Claim: “When I came into office, Iran had $70 billion in foreign exchange reserves. … By the time I left, they had nothing. They were broke.” (Donald Trump, 2023-10-23)
Evidence (2021-10-28): Back to Main Menu Europe & Central Asia [...] Also available in Also available in Arabic
Claim: “When I came into office, Iran had $70 billion in foreign exchange reserves. … By the time I left, they had nothing. They were broke.” (Donald Trump, 2023-10-23)
Evidence (2023-12-13): Chris Christie stated on December 13, 2023 in a town hall in Londonderry, New Hampshire: Under the Trump administration's trade deal, "China's only fulfilled one-third of the promises of agricultural products that they were supposed to buy from our farmers." Nikki Haley stated on November 28, 2023 in an event in Derry, N.H.: China "had the largest naval fleet in the world. They had 370 ships. They'll have 400 ships in two years. We won't even have 350 ships in two decades." Ron DeSantis stated on October 24, 2023 in a town hall in New Hampshire: "The Republicans and Trump funded $400 million in March of 2020 for mail ballots." Donald Trump stated on October 23, 2023 in remarks at a rally in Derry, N.H.: "When I came into office, Iran had $70 billion in foreign exchange reserves. … By the time I left, they had nothing. Vivek Ramaswamy stated on October 18, 2023 in a press gaggle in New Hampshire: "Russia has hypersonic missile capabilities ahead of that of the U.S." Chris Sununu stated on June 26, 2018 in an interview: "Every time they’ve done those border patrols, they’ve taken out people who have trafficked drugs. [...] Donald Trump stated on October 23, 2023 in remarks at a rally in Derry, N.H.: "When I came into office, Iran had $70 billion in foreign exchange reserves. … By the time I left, they had nothing.
Claim: “When I came into office, Iran had $70 billion in foreign exchange reserves. … By the time I left, they had nothing. They were broke.” (Donald Trump, 2023-10-23)
Evidence (2023-10-24): "When I came into office, Iran had $70 billion dollars in foreign exchange reserves, its piggy bank for terrorists. They were broke –—the Iranian regime could barely afford to keep the lights on," Trump said. "Sadly, Crooked Joe surrendered my tough sanctions. Iran now once again has over $70 billion dollars to finance terror, and Israel is paying the price in blood." Trump’s claim is backed up by the data. Iranian oil exports have risen on Biden’s watch from nearly zero to an expected 3.4 million barrels daily, according to Iran’s oil minister. The Wall Street Journal reported the Biden administration’s lack of sanctions enforcement resulted in $30 billion to $40 billion in oil revenue to Iran this year alone.