The President of the United States, Joe Biden on Friday seized $7 billion in assets belonging to the previous Afghan government with the aim of splitting the funds between victims of the 9/11 attacks and desperately needed aid for post-war Afghanistan.
Africa Daily News, New York reports that Biden officially seized the assets via an executive order on Friday.
It would be recalled that the money had been stuck in the New York Federal Reserve since the fall of the US-backed government in Kabul and takeover by the Taliban insurgency that fought US-led forces for 20 years.
A senior US official revealed that Biden will seek authority to funnel $3.5 billion of that into a humanitarian aid trust fund for Afghans, with the rest becoming potentially available to victims of the September 11, 2001 terrorist attacks.
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‘The administration will seek to facilitate access to $3.5 billion of those assets for the benefit of the Afghan people and for Afghanistan’s future,‘ the White House said.
The money will be put in a trust fund that will manage aid in a way that bypasses the Taliban authorities, whose government has not been recognized by the United States.
‘More than $3.5 billion in (Afghan) assets would remain in the United States and are subject to ongoing litigation by US victims of terrorism. Plaintiffs will have a full opportunity to have their claims heard in court,’ the White House said.
The Taliban led-Government in Afghan is yet to react to this new development but analysts believe that no serious dusts would be raised following Biden’s decision to ensure that these assets are deployed for the benefit of the Afghan people who have been subjected to various levels of inhumane treatments over the last few months.
AFRICA DAILY NEWS, NEW YORK
