September 14, 2022

Toomey Statement on Biden Administration Releasing $3.5 B of Afghan Bank Reserves

Washington, D.C. – U.S. Senate Banking Committee Ranking Member Pat Toomey (R-Pa.) released the following statement after the U.S. Department of the Treasury and the Department of State announced the creation of a fund to disburse $3.5 billion of frozen Afghan central bank reserves.

“By releasing $3.5 billion in Afghan central bank reserves, the Biden administration has significantly weakened its ability to ensure that these funds do not end up in the hands of the Taliban. While the administration maintains there will be safeguards put in place to prevent the funds from being used for terrorist financing, in reality, the future of these funds rests in the hands of four individuals—only one of whom is a U.S. government official. Given that the Taliban was just caught harboring the leader of al-Qaeda, the last thing the Biden administration should be doing is opening the door to billions of dollars potentially flowing to a terrorist organization.”