The U.S. failure to pressure the Ayatollah makes a larger war more likely.

Is U.S. foreign policy on autopilot? On Wednesday we learned the Biden Administration is imposing sanctions on another Israeli while reissuing a sanctions waiver that lets Iran access more than $10 billion in frozen funds. Its priorities reflect a policy that long ago was overtaken by events. We reported on the $10 billion in Iraqi energy payments when President Biden unfroze them for Iran’s use in July 2023, and again when he extended the sanctions waiver this past November and March. As usual, the Administration misleads that Iran can use the money only on “humanitarian” goods—as if billions here don’t free up billions elsewhere for the world’s leading sponsor of terrorism. What does this appeasement get the U.S.? Biden officials once whispered they were purchasing a pause in Iran’s nuclear activity. We got the opposite. Iran increased its stockpile of highly enriched uranium and stiff-armed inspectors. On Wednesday Axios reported that the Biden Administration sent a letter “expressing serious concerns” that Iran is beginning work on weaponization, as Mark Dubowitz warned on these pages in April. That’s the Biden team’s idea of getting tough: Send a strongly worded letter but don’t cut off the billions of dollars.

More From The Wall Street Journal (subscription required):