Sergei Shoigu, Secretary of the Russian Security Council, said that Western countries have frozen approximately $590 billion belonging to Russia, Libya, Cuba, Venezuela, Iraq, Iran, North Korea, and Afghanistan, accusing the West of seizing those funds and freezing them outside the normal framework of the international economy.

During a meeting of the secretaries of the security councils of the member states of the Shanghai Cooperation Organization, Shoigu explained that the freezing of Afghan assets by the United States, Britain, and Germany is hindering the return of economic life to normal in Afghanistan, noting that the total amount of frozen Afghan funds is approximately $10 billion, according to the Russian news agency RIA Novosti.

Freezing of Afghan assets

He added that former U.S. President Joe Biden allocated $3.5 billion in February 2022 to compensate the families of the victims of the September 11 attacks, while another $3.5 billion was transferred to a humanitarian aid fund for the Afghan people, bypassing the Taliban government, arguing that these steps constitute a “seizure” of Afghan funds.

Freezing of Libyan Assets

As for Libyan assets, they have been subject to a freeze since 2011 under resolutions issued by the UN Security Council, with the aim of protecting and preserving Libyan sovereign funds and preventing their erosion or loss of value.