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Swiss-based trust fund for frozen Afghan assets meets in Geneva

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The board of a Swiss-based trust fund managing some $3.5 billion in frozen assets seized after the Islamic Emirate of Afghanistan(IEA) took power last year is meeting in Geneva for the first time on Monday, a Swiss government spokesperson confirmed.

The frozen central bank reserves were recently transferred from Washington into the ‘Fund for the Afghan People’ where US officials say it will be shielded from the IEA. The latter has condemned the transfer, calling it a violation of international norms.

The agenda of the meeting is not yet public.

The fund’s statutes says its purpose is to “receive, protect, preserve and disburse assets for the benefit of the Afghan people”. But how and when the four-member board will disburse the money remains to be decided, Reuters reported.

After decades of war and drought, half of Afghanistan’s population, or 24 million people, are in need of humanitarian assistance according to the United Nations.

However, a full-scale transfer back to Afghanistan’s central bank, known as DAB, is seen as all but impossible with a top official who is under both US and UN sanctions.

The Swiss fund’s statutes indicate that disbursements will be for macroeconomic purposes, such as foreign exchange rate and price stabilization.

The $3.5 billion forms part of an original $7 billion being held in the United States following the IEA takeover in August 2021. The other half is being contested in lawsuits against the IEA stemming from the Sept. 11, 2001 attacks on the United States.

Trustees include Swiss foreign ministry official Alexandra Baumann, U.S. Ambassador to Switzerland Scott Miller, Anwar Ahady, a former Afghan central bank chief and former finance minister, and Shah Mehrabi, a U.S. academic who remains on the DAB Supreme Council.

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Afghanistan to establish independent oil and gas authority

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Noorulhaq Anwar, Director General of Administrative Affairs, announced on Sunday that the Islamic Emirate has approved plans to create an independent oil and gas authority.

He stated on X that the Administrative Commission has been instructed to consolidate eight previously fragmented units operating in the oil and gas sector into the new authority.

Anwar emphasized that this move aims to enhance integration, organization, efficiency, transparency, and coordination in oil and gas production and imports. He added that the initiative will benefit the Islamic Emirate, investors, consumers, and the wider public.

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Germany speeds up admission of Afghans from Pakistan

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Germany is accelerating the admission of Afghan nationals currently in Pakistan, with Foreign Minister Johann Wadephul expecting arrivals by the end of the year for those with binding commitments to be accepted.

“I assume this is a priority,” Wadephul told the Evangelical Press Service. “Necessary checks and flights are now proceeding quickly,” he added. From the beginning of next year, Afghans still waiting in Pakistan face potential deportation to their country of origin.

For years, many of these individuals had been promised entry into Germany, but Federal Interior Minister Alexander Dobrindt (CSU) had questioned some of these commitments and ordered a renewed review of which of the original roughly 2,000 people should still be admitted. At the same time, numerous legal challenges arose regarding the validity of these promises and Germany’s obligation to accept certain refugees.

Wadephul emphasized that responsibility lies with the Interior Ministry. Following its review, it was determined that a significant portion of the group has legally binding commitments, while for another group of around 650 people, Dobrindt recently decided against admission. This decision has drawn criticism from opposition parties and human rights organizations.

The foreign minister noted that he had previously negotiated with Pakistan to extend asylum procedures by six months, allowing particularly those in the federal resettlement program to be admitted. “The Interior Ministry no longer sees this option for individuals from the bridging program and those on the human rights list,” he said.

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IEA official applauds Iran FM’s focus on Afghanistan’s transit role

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Zakir Jalaly, Director of the Second Political Department at the Ministry of Foreign Affairs of Afghanistan, on Sunday highlighted the importance of moving beyond purely security-focused approaches and recognizing Afghanistan’s constructive role in regional connectivity, cooperation, and integration.

Jalaly noted in a post on X that Afghanistan prior to 2021, amid the presence of foreign military forces and interventions by regional and international actors, had become a serious security challenge not only for its people but for the entire region. Today, however, Afghanistan is no longer seen merely as a crisis to manage. With its geo-economic position, good intentions, and the current government’s economy-oriented foreign policy, the country has the potential to serve as an effective bridge between Central, South, and West Asia.

Under this approach, regional countries can effectively utilize Afghanistan’s transit, trade, and connectivity capacities, ultimately promoting shared interests and strengthening regional integration.

Jalaly praised the emphasis placed on these opportunities by Iran’s Foreign Minister Abbas Araqchi in his recent speech in Tehran meeting on Afghanistan. He said that over the past four years, tangible steps have been taken to enhance regional transit, connectivity, trade facilitation, and economic cooperation between Afghanistan and neighboring countries. These efforts demonstrate that a forward-looking, engagement-focused approach can foster stability, prosperity, and mutual regional benefits.

He concluded that cooperation with Afghanistan should be based on existing opportunities, on-the-ground realities, and available capacities. Afghanistan and the region possess extensive potential, and leveraging these resources effectively can create sustainable win–win outcomes for all parties involved.

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