The Biden administration froze Afghan government reserves deposited in U.S. bank accounts Sunday, cutting off the Taliban’s access to billions of dollars. A substantial portion of the $9.4 billion the Afghanistan central bank holds in reserve assets are presently held in the United States.
Treasury Secretary Janet Yellen and officials in the Treasury’s Office of Foreign Assets Control directed the account suspensions, two sources familiar with the move told the Washington Post.
As an administration official explained in a statement to the Post, “any Central Bank assets the Afghan government have in the United States will not be made available to the Taliban.”
Since the Taliban insurgents ousted the Afghan regime, the Biden administration has been asked repeatedly how it can guarantee the delivery of humanitarian aid without collaborating with and recognizing the terrorist organization as a legitimate government entity. An extremely impoverished country, Afghanistan relies heavily on American financial assistance and economic support.
The United States also subsidizes the Afghan military. U.S. law authorizes allocating money to Afghan defenses if the secretary of defense “certifies to Congress that the Afghan forces are controlled by a civilian, representative government that is committed to protecting human rights and women’s rights.” Beyond blocking access to monetary assets, the U.S. will also stop financing the Afghan military now that it has been replaced by the Taliban.
While the UN Security Council in a unanimous resolution Monday called for the establishment of a new representative government in Afghanistan that allows for the full participation of women, it is questionable if the Taliban, with its long record of egregious human rights violations, can meet that criteria.
In his address to the nation Monday, President Biden promised to continue to help the Afghan people. “We will lead with our diplomacy, our international influence, and our humanitarian aid,” he said.
Source: National Review
