Afghan Central Banks Rejects U.S. Order To Seize The Nation’s Foreign Reserves

Afghanistan’s central bank on Saturday rejected U.S. President Joe Biden’s executive order to seize half of its $7 billion in assets held in American financial institutions.

Da Afghanistan Bank said the decision to block their foreign exchange reserves and allocate them to “irrelevant” purposes is an injustice to the Afghan people.

The bank said the money belongs to the people of Afghanistan, not any government or group.

Biden issued an executive order Friday splitting Afghanistan’s central bank’s $7 billion in assets.

The order allocates half the money for humanitarian relief for a country ravaged by over 42 years of war.

Meanwhile, the other half will be kept available for compensation to victims of the 9/11 attacks.

Former Afghan president Hamid Karzai on Sunday called on Biden to reverse his decision on the bank’s funds and return it all to Afghanistan.