Tag: US Treasury

Lawmakers Urge Treasury Secretary To Allow Musk’s Starlink To Provide Internet In Iran

A bipartisan group of lawmakers recently wrote to Treasury Secretary Janet Yellen to allow Elon Musk’s Starlink to provide internet service in heavily sanctioned Iran. Iran’s government restricted internet service to control dissent in the midst of widespread protests after a young woman died in the custody of its morality police.

Led by Representatives Claudia Tenney, a New York Republican, and Tom Malinowski, a New Jersey Democrat, and signed by a number of other lawmakers, the letter cites Musk’s response to a Twitter user inquiring if he would be able to help provide internet service, similar to what he did for Ukraine when Russia invaded.

Musk “recently stated that SpaceX would seek a license to provide its satellite based Starlink Internet service to Iran,” the lawmakers wrote. “If such a license request is submitted, we urge you to approve it immediately.”

The lawmakers also asked Treasury “to clarify its policies for fostering communications access in sanctioned countries and urge the department to issue any necessary ‘comfort letters’ to entities that may seek to provide communications services under previously issued general licenses,” according to a Bloomberg report.

The report also notes that Treasury recently started hiring a “chief sanctions economist,” a post officials say will be dedicated to mitigating these types of concerns.  

Earlier in the week, Musk announced that the Starlink constellation is now active in all of the Earth’s seven continents, most recently in Antarctica. SpaceX’s satellite internet service launched 54 satellites on Sunday, joining the 3,076 already in low-Earth orbit. The company aims to have a constellation the size of 42,000 satellites by mid-2027.

Starlink’s goal is to provide high-speed internet to rural and remote areas, or those difficult to connect to broadband service. The company provided internet service to Ukraine’s military after Russia invaded and attacked the country’s internet infrastructure.

In June, Starlink received the license to formally operate in Ukraine and provide internet service not just to the military but also to regular subscribers.

As of this writing, it remains unclear if Starlink has formally requested a license to operate in Iran.


Information for this briefing was found via Twitter, Bloomberg, and the sources and companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Lawmakers Urge Treasury Secretary To Allow Musk’s Starlink To Provide Internet In Iran

September 23, 2022, 11:41:00 AM

US To Impose Sanctions On Russia’s Lower House, Block Gold-Related Transactions With Central Bank

March 24, 2022, 03:47:00 PM

US Treasury Quells Fears, Set to Clarify New Crypto IRS Reporting Requirements

August 14, 2021, 03:18:00 PM

US Treasury Set to Reduce Government Debt Sales for First Time in Five Years

August 5, 2021, 02:48:00 PM

The US Economy is FLOODED With Excess Cash: What Does This Mean For The Reverse Repo Market?

July 9, 2021, 01:30:00 PM

US 10-Year Treasury Soars to 14-Month High Ahead of Biden’s Infrastructure Plan Unveiling

March 31, 2021, 10:31:00 AM

US Unemployment Rate Falls to 6.2%, Pushing 10-Year Treasuries to New Highs

March 5, 2021, 04:01:00 PM

5Y Breakeven Rate Soars to Highest Level Since 2008 Amid Inflation Fears

March 4, 2021, 02:42:00 PM

US Airlines Reach Agreements with Treasury for Federal Loans

July 3, 2020, 12:58:00 PM

Foreign Countries Reducing US Treasuries, Opt for Gold Reserves

June 16, 2020, 05:47:00 PM

Inflation: US Fed Forgetting About Basic Economic Theory While Pumping Money into Economy

April 28, 2020, 12:00:00 PM

Foreign Countries Are Dumping Treasuries at a Rate so Fast the US Had Set up a Foreign Repo Market

April 2, 2020, 10:20:30 AM
Video Articles

Bell Q3 Earnings: Massive Impairments. Guidance Cuts. A Mess.

Alamos Gold Q3: Record Revenue & Production Amid Rising Costs

The Junior Mining Market Is Back

Recommended

Germany Looks To Modernize Military Recruitment But Stops Short of Conscription

First Majestic Silver Posts Topline Revenue Of $146.1 Million In Q3 2024