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Joe Biden issues order extending freeze on Afghanistan’s foreign reserves
In a message to Congress on the continuation of the “National Emergency With Respect to the Widespread Humanitarian Crisis in Afghanistan and the Potential for a Deepening Economic Collapse in Afghanistan,” US President Joe Biden said on Wednesday that Afghanistan’s foreign reserves would remain frozen beyond February 11.
Biden issued the original executive order on the humanitarian crisis in Afghanistan and the threat arising from it on February 11, 2022.
In an order posted to the White House’s website, Biden said: “The widespread humanitarian crisis in Afghanistan — including the urgent needs of the people of Afghanistan for food security, livelihoods support, water, sanitation, health, hygiene, and shelter and settlement assistance, among other basic human needs — and the potential for a deepening economic collapse in Afghanistan continue to pose an unusual and extraordinary threat to the national security and foreign policy of the United States.
“In addition, the preservation of certain property of Da Afghanistan Bank (DAB) held in the United States by United States financial institutions is of the utmost importance to addressing this national emergency and the welfare of the people of Afghanistan.”
He said various “parties, including representatives of victims of terrorism, have asserted legal claims against certain property of DAB or indicated in public court filings an intent to make such claims.” This property, he said, is blocked in accordance with his executive order.
This comes after Afghanistan’s foreign minister Amir Khan Muttaqi again asked for the frozen assets to be released. At the “Afghanistan Regional Cooperation Initiative” meeting in Kabul a few weeks ago, Muttaqi called on the US to return the assets to DAB.
The US froze more than $9.5 billion soon after the IEA’s takeover in August 2021.
About $7 billion was being held in the Federal Reserve Bank in New York at the time of the first order. The rest was frozen by banks in other countries.
Of the $7 billion in the US, $3.5 billion has been transferred to a special fund in Switzerland and the remaining money is being held by the US.
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Pakistan seeks Russian mediation to resolve Afghanistan tensions
Pakistan’s ambassador to Russia, Faisal Niaz Tirmizi, has confirmed that Islamabad has asked Moscow to mediate in the ongoing conflict with Afghanistan.
In an interview with Russian daily Izvestia, Tirmizi said Pakistan is engaging with Russia and appreciates the “wonderful offer” to help resolve tensions. He noted that proposals from Russia, China, Qatar, Turkey, and Saudi Arabia led to an agreement on a temporary ceasefire.
“We tell all our interlocutors: please tell the Taliban (IEA) not to use this opportunity simply to regroup, recuperate, rearm, and re-attack,” Tirmizi said. “Because such large states as Russia or Pakistan cannot be destabilized by terrorist acts.”
The ambassador emphasized that decades of war in Afghanistan have affected not only Kabul and Islamabad but also neighboring countries, including Iran, Tajikistan, Turkmenistan, Uzbekistan, and even Russia. “Therefore, we must all trade with each other, develop education, art, and culture. Terrorism is the wrong way to go,” he added.
The appeal for mediation comes amid rising cross-Durand Line tensions and violence that have killed hundreds and displaced thousands in recent weeks.
Pakistani officials have repeatedly claimed that militant attacks in the country are organized in Afghanistan.
The IEA however denies the claim saying that Afghanistan is not responsible for Pakistan’s “security failure.”
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World must re-engage to prevent all-out Afghanistan-Pakistan war: Financial Times
In an opinion article published on Sunday, Financial Times warned that rising tensions between Afghanistan and Pakistan risk spiraling into a wider conflict, and urged the international community to urgently re-engage with the troubled region.
The publication noted that nearly five years after the Islamic Emirate’s return to power, global attention has largely faded, despite growing instability. It highlighted restrictions on women’s rights and the worsening relationship between Kabul and Islamabad, once close allies.
According to the article, Pakistan’s ties with the IEA have sharply deteriorated since 2021. Islamabad accuses Afghan authorities of harboring militant groups responsible for attacks inside Pakistan—an allegation the IEA denies.
Recent weeks have seen a surge in violence, including cross-Durand Line airstrikes and clashes that have reportedly killed over 1,000 people and displaced more than 100,000. One of the deadliest incidents involved an airstrike on a drug rehabilitation center in Kabul, which Afghan officials say killed hundreds.
The newspaper warned that continued escalation could destabilize South and Central Asia and risk turning Afghanistan into a hub for militant activity once again.
It criticized Pakistan’s military approach, saying airstrikes alone cannot end insurgencies, and called for sustained ceasefire efforts following a temporary truce during Eid al-Fitr.
The editorial urged major powers, including the United States and China, to play a more active diplomatic role. It also pointed to China’s strategic interests in the region and suggested Beijing could step forward as a mediator.
Despite past failed attempts at peace, the Financial Times stressed that the risks are too high for the world to remain disengaged.
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