Biden Is Allocating Half Of $7 Billion Afghan Funds To Families Of 9/11 Victims

Afghanistan put $7 billion in the Federal Reserve Bank of New York’s account. The Taliban wants its money back, but they haven’t given any guarantees about what they’ll do with it. The Biden Administration has chosen to combine the assets and seek judicial approval. If the relatives of 9/11 victims decide to pursue the money in court, $3.5 billion will be made accessible to them.

Moreover, when the Afghan government fell apart, $7 billion was left on deposit at the Federal Reserve Bank of New York. Because it wasn’t obvious who could access the money, the Fed rendered them inaccessible for withdrawal. The Taliban, who now rule Afghanistan, instantly claimed ownership of the funds. However, a group of 9/11 victims’ families attempted to take it to pay off a legal debt.

According to the reports, families of 9/11 victims were unable to seek compensation until after the United States had abandoned Afghanistan and the Taliban had taken control of the nation and its assets. They only had a chance of seeing a cent of Afghan money after that.

Furthermore, Joe Biden has agreed that the Administration would not challenge any court ruling directing half of the money set aside for 9/11 claims to Afghan help. The Justice Department is anticipated to argue to the court that victims should be given a fair chance to present their cases. Mr. Biden will attempt to direct the remaining funds to a trust fund if the judge agrees to lift the writ of execution partially.

The families of the victims of 9/11 would never see a dime of that money in their lifetimes. The US Administration handed over the $7 billion right before Kabul fell. Because thousands of people are vying for the money, the awards are unlikely to be significant. They should, however, finally receive everything they are due.