President Joe Biden on Friday issued an executive order to transfer the $7 billion in Afghan central bank assets frozen in the U.S. so they can be used to compensate victims of the Sept. 11 terrorist attacks and support aid efforts in Afghanistan.
The order directs U.S. financial institutions to move Afghan central bank funds into a consolidated account held at the Federal Reserve Bank of New York, with the U.S. seeking to tap $3.5 billion for assistance to the Afghan people.
The other $3.5 billion will remain in the U.S., pending ongoing litigation brought by the victims of the Sept. 11 attacks.
