The Washington Free Beacon has claimed in a report published on Tuesday that the US administration is going to approve a sanctions waiver that will allow Iran to access at least $10 billion in previously frozen funds held in Iraq.

The waiver would extend the multibillion-dollar sanctions relief first issued in July that expires tomorrow, the American website added.

According to the report, the waiver allows Iraq to transfer frozen electricity payments into Iranian-owned bank accounts in Europe and Oman.