Tuesday, July 5, 2022

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US releases $3.5 billion from Afghanistan’s central bank

The US plans to release half of the Afghan Central Bank’s $7 billion worth of assets frozen on American soil to help the Afghan people. It is stated that it plans to release half of its $7 billion worth of assets to help the Afghan people. The rest of the fund will be used for lawsuits brought by victims of terrorism against the Taliban administration, and this money will be transferred to the Federal Reserve Bank of New York.

With the presidential decree signed by President Biden, a state of emergency has been declared due to the threat of deep economic collapse in Afghanistan, and a solution has been sought to find a solution to the conflicting interests in a complex issue such as Afghan assets. That announcement came hours before the US Department of Justice submitted a plan to a federal judge on what to do with the frozen assets. US senators and the United Nations (UN) are calling for the funds to be used for the economic crisis in Afghanistan. The US senior officials, who will establish the foundation, state that they will work to use the $ 3.5 billion assets for the benefit of the Afghans.

The same officials stated that Washington is planning to establish an impartial foundation and manage the funds by this institution, but the structure of this foundation and how the funds will be used have not been clarified yet. It is stated that one pillar of the plan, which consists of several stages, will be the financing of the lawsuits filed by the relatives of the victims of the Taliban regime, including those who died in the September 11 attacks. Washington froze the country’s assets in the United States after the Taliban took over power in Afghanistan in August. But the US has since sought a way to release these funds without recognizing the Taliban administration.

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