Beautiful Virgin Islands

Wednesday, Aug 27, 2025

Biden administration freezes billions in Afghan reserves, limiting Taliban cash access: report

Biden administration freezes billions in Afghan reserves, limiting Taliban cash access: report

Yellen made the decision to freeze Afghan government reserves held in US banks
The Biden administration reportedly froze Afghan government reserves held in U.S. banks on Sunday, blocking the Taliban from accessing billions of dollars shortly after the group seized the capital city of Kabul, leaving the U.S.-backed government in collapse.

Treasury Secretary Janet Yellen and officials in the Treasury Department's Office of Foreign Assets Control made the decision, according to The Washington Post, citing two people familiar with the matter. The State Department was also involved in discussions over the weekend, with White House personnel are monitoring the developments.

"Any Central Bank assets the Afghan government have in the United States will not be made available to the Taliban," an administration official told the Post.

The move – which is designed to cut off the Taliban from billions of dollars in U.S.-based reserves – is the first in what is expected to be a number of critical decisions facing the Biden administration as they grapple with the Taliban's return to power. Afghanistan, already one of the poorest countries in the world, is heavily dependent on American aid.

Asked Tuesday what actions the U.S. intends to take to ensure the safety of women in Afghanistan, White House national security adviser Jake Sullivan said "there are obviously issues related to sanctions." He declined to elaborate further.

"I want to be able to have our team communicate directly to the Taliban both what the costs and disincentives are for certain types of action and what our expectations are," Sullivan said.

In a speech on Monday, President Biden appeared to commit to continuing to give aid to Afghanistan, saying: "We will continue to support the Afghan people. We will lead with our diplomacy, our international influence and our humanitarian aid."

The Afghan central bank had roughly $9.4 billion in reserve assets as of April, according to the International Monetary Fund – or about a third of the nation's yearly economic output. But most of that money is not held in Afghanistan, and billions sit in the U.S., the Post reported.

The Biden administration did not need new authority to freeze the reserves, because the Taliban already faced sanctions from an executive order signed after the Sept. 11 terrorist attacks, said Adam Smith, a former Obama administration official who served on the National Security Council and as senior adviser to the director of the Office of Foreign Assets Control.

About 80% of Afghanistan’s budget is funded by the U.S. and other international donors, John Sopko, the special inspector general for Afghanistan reconstruction, told Reuters in the spring.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Manhunt in Australia: Armed Anti-Government Suspect Kills Police Officers Sent to Arrest Him
China Launches World’s Most Powerful Neutrino Detector
How Beijing-Linked Networks Shape Elections in New York City
Ukrainian Refugee Iryna Zarutska Fled War To US, Stabbed To Death
Elon Musk Sues Apple and OpenAI Over Alleged App Store Monopoly
2 Australian Police Shot Dead In Encounter In Rural Victoria State
Vietnam Evacuates Hundreds of Thousands as Typhoon Kajiki Strikes; China’s Sanya Shuts Down
UK Government Delays Decision on China’s Proposed London Embassy Amid Concerns Over Redacted Plans
A 150-Year Tradition to Be Abolished? Uproar Over the Popular Central Park Attraction
A new faith called Robotheism claims artificial intelligence isn’t just smart but actually God itself
Deputy Prime Minister Angela Rayner Purchases Third Property Amid Housing Tax Reforms Debate
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Italian Facebook Group Sharing Intimate Images Without Consent Shut Down Amid Police Investigation
Dutch Foreign Minister Resigns Amid Deadlock Over Israel Sanctions
Trump and Allies Send Messages of Support to Ukraine on Independence Day Amid Ongoing Conflict
China Reels as Telegram Chat Group Shares Hidden-Camera Footage of Women and Children
Sam Nicoresti becomes first transgender comedian to win Edinburgh Comedy Award
Builders uncover historic human remains in Lancashire house renovation
Australia Wants to Tax Your Empty Bedrooms
MotoGP Cameraman Narrowly Avoids Pedro Acosta Crash at Hungarian Grand Prix
FBI Investigates John Bolton Over Classified Documents in High-Profile Raids
Report reveals OpenAI pitched national ChatGPT Plus subscription to UK ministers
Labour set to freeze income tax thresholds in long-term 'stealth' tax raid
Coca‑Cola explores sale of Costa coffee chain
Trial hears dog walker was chased and fatally stabbed by trio
Restaurateur resigns from government hospitality council over tax criticism
Spanish City funfair shut after serious ride injury
Suspected arson at Ilford restaurant leaves three in critical condition
Tottenham beat Manchester City to go top of Premier League
Bank holiday heatwave to hit 30°C before remnants of Hurricane Erin arrive
UK to deploy immigration advisers to West Africa to block fake visas
Nurse who raped woman continued working for a year despite police alert
Drought forces closures of England’s canal routes, canceling boat holidays
Sweet tooth scents: food-inspired perfumes surge as weight-loss drugs suppress appetites
Experts warn Britain dangerously reliant on imported food
Family of Notting Hill Carnival murder victim call event unmanageable
Bunkers, Billions and Apocalypse: The Secret Compounds of Zuckerberg and the Tech Giants
Ukraine Declares De Facto War on Hungary and Slovakia with Terror Drone Strikes on Their Gas Lifeline
Animated K-pop Musical ‘KPop Demon Hunters’ Becomes Netflix’s Most-Watched Original Animated Film
New York Appeals Court Voids Nearly $500 Million Civil Fraud Penalty Against Trump While Upholding Fraud Liability
Elon Musk tweeted, “Europe is dying”
Far-Right Activist Convicted of Incitement Changes Gender and Demands: "Send Me to a Women’s Prison" | The Storm in Germany
Hungary Criticizes Ukraine: "Violating Our Sovereignty"
Will this be the first country to return to negative interest rates?
Child-free hotels spark controversy
North Korea is where this 95-year-old wants to die. South Korea won’t let him go. Is this our ally or a human rights enemy?
Hong Kong Launches Regulatory Regime and Trials for HKD-Backed Stablecoins
China rehearses September 3 Victory Day parade as imagery points to ‘loyal wingman’ FH-97 family presence
Trump Called Viktor Orbán: "Why Are You Using the Veto"
×