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Washington to limit Taliban Cash Access & Froze $7B in Afghan Reserves

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Sienna Stewart
Washington to limit Taliban Cash Access & Froze $7B in Afghan Reserves

The administration of President Joe Biden froze reserves of the Afghan government held in the US banks. It will block the Taliban from accessing billions of dollars. The decision came just after the group seized the capital city of Kabul and left the US-backed government in collapse. The Washington Post reported that the US Treasury Secretary Janet Yellen and officials in the Treasury Department’s Office of Foreign Assets Control made the decision. The State Department was also involved in discussions over the weekend with White House personnel and monitoring the developments. An official said, “Any Central Bank assets the Afghan government have in the United States will not be made available to the Taliban”. The Afghanistan Central Bank holds total assets of about $10 billion assets and $7 billion of which are stashed with the Federal Reserve Bank in New York Read more...

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Sienna Stewart
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