Taliban

The Taliban is an Afghan movement and the de facto governing authority in Afghanistan since August 2021. It must be distinguished from Afghanistan as a state, Da Afghanistan Bank, persons and entities listed under United Nations sanctions, and the Fund for the Afghan People. Those subjects have different rights, property and legal status.

Sanctions and reserves

Security Council Resolution 1267 of 1999 imposed measures on the first Taliban regime. The sanctions architecture later divided, with the present 1988 regime addressing individuals and entities associated with the Taliban. It is not a blanket asset freeze on every Afghan person or transaction.

After the republic collapsed in August 2021, approximately USD 7 billion of Da Afghanistan Bank property was held in the United States. Executive Order 14064 of 11 February 2022 protected specified property and enabled dealings intended to benefit Afghanistan's people. The order did not finally award half the property to September 11 litigants. Attachment litigation, licences, transfers and later court decisions are separate legal steps.

In September 2022, USD 3.5 billion moved to the Swiss-based Fund for the Afghan People. The Fund reported assets exceeding USD 3.9 billion as at December 2024. That is a dated balance, not a current 2026 figure. The Fund states that its purpose is to protect and preserve assets for the Afghan people without making them available to the Taliban.

Security Council Resolution 2615 created a humanitarian exception to the asset freeze in the 1988 sanctions regime. It did not suspend all restrictions affecting Afghanistan. The distinction matters because humanitarian finance can remain chilled by bank risk decisions even where a transaction is authorised.

Adaptation and recognition

The de facto authorities raise customs and tax revenue and use informal settlement channels. Claims about the effectiveness and durability of the 2022 opium ban require current United Nations drug data. On 3 July 2025, Russia formally recognised the Islamic Emirate of Afghanistan and became the first state to do so. The Russian Foreign Ministry confirmed the decision and accepted the credentials of Afghanistan's ambassador. Bilateral recognition did not determine Afghanistan's representation at the United Nations, whose records continued to use de facto authorities in the relevant reporting.

See also

Afghanistan central bank reserve freeze (2021-present) | Da Afghanistan Bank | Fund for the Afghan People | Hawala and informal value transfer | UNSCR 1267 (1999)

Sources

• United Nations Security Council, 1988 sanctions regime, accessed 29 July 2026.
• President of the United States, Executive Order 14064, 11 February 2022.
• Fund for the Afghan People, official governance and financial information, accessed 29 July 2026.
• United Nations Security Council, Resolution 2615 humanitarian exception announcement, 22 December 2021.
• United Nations, 2025 report on Afghanistan, 2025.
• United Nations, 2026 report continuing to refer to Afghanistan's de facto authorities, 2026.
• TASS, Russian Foreign Ministry confirmation of formal recognition, 3 July 2025.
• TASS, Russian Security Council statement identifying Russia as the first state to recognise the Taliban-led government, 29 August 2025.