President Joe Biden is expected to issue an executive order on Friday to move some $7 billion of the Afghan central bank’s assets frozen in the U.S. banking system to fund humanitarian relief in Afghanistan and compensate victims of the Sept. 11, 2001, attacks, according to a U.S. official familiar with the decision.
The order will require U.S. financial institutions to facilitate access to $3.5 billion of assets for the Afghan relief and basic needs. The other $3.5 billion would remain in the United States and be used to fund ongoing litigation by U.S. victims of terrorism, the official said. The official spoke on the condition of anonymity because the decision had not been formally announced.
