Taliban Can’t Get Their Hands on Afghan Central Bank’s $10B in Reserves

  • The Taliban cannot get their hands on the Afghan central bank’s nearly $10 billion in reserves.
  • About $7 billion of the bank’s reserves is reportedly held by the Federal Reserve Bank of New York.
  • The US froze most of the central bank’s assets after the Taliban took control of Afghanistan.

The Taliban may have seized control of Afghanistan — but for now, the group can’t access the nearly $10 billion in reserves in the country’s central bank, most of which is reportedly held by the

Federal Reserve
Bank in New York.

Last week, Taliban members attempted

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Afghanistan: Taliban face financial squeeze from West | Business | Economy and finance news from a German perspective | DW

The speed of the Taliban’s capture of Afghanistan last weekend has left the West scrambling to curtail the Islamist militants’ grip on the country. Military action has been all but ruled out and instead the United States and its NATO allies have turned to financial warfare.

US President Joe Biden and the Federal Reserve have frozen billions of dollars in Afghan currency reserves held in the US. Nearly $9 billion (€7.7 billion) in assets are kept in the US and other countries, including $1.2 billion in gold and more than $300 million in international currencies.

In anticipation of the fall

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