The $7bn (£5.1bn) of cash reserves belonging to Afghanistan’s central bank that have been frozen in the United States since the Taliban seized control of that country will be transferred to the New York Federal Reserve Bank so the Biden administration can use them to benefit the Afghan people and compensate victims of the 11 September 2001 terrorist attacks.
US President Joe Biden on Friday signed an executive order invoking national emergency powers to seize “all property and interests in property” belonging to the Da Afghanistan Bank and direct them to a single “consolidated account” at the New York branch of the US central bank.
