The Biden administration is releasing $7 billion in frozen Afghan funds, clearing a path for the families of the Sept. 11 terror attacks to pursue half, with the second tranche distributed for humanitarian assistance in Afghanistan.
The Afghan central bank has about $7 billion in assets held in the Federal Reserve Bank of New York, which were deposited before the Taliban took over the country last year.
BIDEN NATIONAL SECURITY TEAM SLOW TO ACT ON AFGHANISTAN EVACUATION: ARMY REPORT
Relatives of victims of the Sept. 11 attacks have sought access to the money through the courts after winning judgments against the Taliban years ago. Meanwhile, Afghanistan’s economy has collapsed, leaving the country in dire humanitarian straits and prompting calls for relief spending.
For months, the White House has deliberated how to address the funds while ensuring no benefit goes directly to the Taliban, a senior administration official said, adding that the process will happen in coordination with allies and may take several months.
The United States and international partners spent trillions of dollars of aid on Afghanistan through the two-decade mission, which ended in August last year.
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President Joe Biden signed an executive order to initiate the process on Friday.
