Afghanistan in Economic Crisis; Taliban Has Put Mines Up for Sale

The Taliban, facing international sanctions and a difficult economic outlook domestically, has turned to selling Afghanistan's natural resources. The Taliban government, which has not been recognized as the legitimate government of Afghanistan by any country, has signed multi-billion dollar contracts for the extraction of minerals, including oil, copper, gold, and lithium, with Chinese and other foreign companies. Afghanistan has been caught in an economic crisis since the Taliban came back to power in August 2021, when Western countries cut off their development aid, which amounted to several billion dollars annually. On the other hand, humanitarian aid has also decreased, leading institutions to halt essential financial assistance for about 10 million Afghan citizens facing severe food insecurity. Taliban officials claim they are utilizing domestic natural resources to fill the gap created by the reduction in foreign aid, but opponents doubt their intentions. Aryan Sharifi, a professor at Princeton University's School of Public and International Affairs, told Voice of America that the Taliban is seeking cash and diplomatic ties with China through these contracts. The value of Afghanistan's mineral wealth is estimated to be in the trillions of dollars, but foreign investment has been challenging due to security concerns and the lack of necessary infrastructure. A $3 billion contract signed in 2007 between the Chinese company 'Metallurgical Group' and the Afghan government for copper extraction has yet to be implemented. Additionally, last January, another Chinese company committed to investing $540 million in oil extraction in northern Afghanistan over the next three years. For over three decades, many Taliban leaders have been on the United Nations' terrorism-related sanctions list and have been banned from trade and foreign travel. Several Western countries, including the United States, Canada, and various European nations, have also imposed economic, banking, and political sanctions against Taliban individuals and entities. Last year, the U.S. government issued exemptions allowing certain business transactions with Afghan entities, except those that directly benefit sanctioned Taliban individuals. Two years after the Taliban came to power in Afghanistan, human rights violations are increasing. The ban on women's entry to Afghanistan's national parks; Taliban: Recreation is not necessary, mandatory hijab is. Exclusive; Ariana Saeed: The achievements of 20 years in Afghanistan have been lost under the Taliban government. The Ham-Mihan newspaper warns the Islamic Republic; take the Taliban threat seriously. Women protesters burned images of 'Taliban leaders and their supporters' in Kabul.