Letter to Congressional Leaders on Protecting Certain Property of Da Afghanistan Bank for the Benefit of the People of Afghanistan

Dear Madam Speaker: (Dear Madam President:)

Pursuant to the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.), the National Emergencies Act (50 U.S.C. 1601 et seq.), and section 301 of title 3, United States Code, I hereby report that I have issued an Executive Order declaring a national emergency with respect to the widespread humanitarian crisis in Afghanistan—including the urgent needs of the people of Afghanistan for food security, livelihoods support, water, sanitation, health, hygiene, shelter and settlement assistance, and COVID-19-related assistance, among other basic human needs—and the potential for a deepening economic collapse in Afghanistan. In addition, I find that the preservation of certain property of Da Afghanistan Bank (DAB) held in the United States by United States financial institutions is of the utmost importance to addressing this national emergency and the welfare of the people of Afghanistan.

In order to address this national emergency, the Executive Order blocks all property and interests in property of DAB that are held in the United States by any United States financial institution, including the Federal Reserve Bank of New York, and compels the transfer of the blocked property into a consolidated account held at the Federal Reserve Bank of New York.

I am enclosing a copy of the Executive Order I have issued.

JOSEPH R. BIDEN JR.