The Taliban regime in Afghanistan says it will work with a Chinese company to extract oil. It would be the first time Sunni extremists have signed a major contract with a foreign company since they took control of the country with the fall of Kabul in 2021.
The Taliban are said to have signed a contract with Xinjiang Central Asia Petroleum and Gas Co (CAPEIC) to extract oil in the Amu Darya River valley on the country’s northern border.
The Chinese company will invest $150 million annually in Afghanistan for the project, Afghan government spokesman Zabihullah Mujahid said on Twitter. It would be a 25-year contract. Under the deal, already discussed in August, the Taliban would receive 20 percent of the profits.
Terrorist activities
The Taliban are hardly officially recognized as a legitimate government and are, among other things, subject to sanctions by the United Nations for their terrorist activities. Beijing fears the Taliban is backing rebel Islamist groups in the People’s Republic, but has always maintained ties with the movement given Afghanistan’s vast mineral wealth.
The Taliban face numerous economic problems due to lack of international recognition. For example, they have no access to assets from Afghanistan abroad. China has long hoped to strike deals with those in power in Kabul and looks forward to Afghanistan’s mineral resources such as bauxite, chromium, iron, cobalt, copper, mercury, lithium, uranium and rare earths.
Source: BNR
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