BRICS: China Helps Taliban Sell $80 Million Worth Crude Oil in 10 Days

Vinod Dsouza
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The war-torn Afghanistan’s conservative government, the Taliban announced that it sold $80 million worth of crude oil in 10 days. The sales come after BRICS member China poured in $49 million through CAPEIC investment last year to help the Taliban. China helped Afghanistan’s Taliban government to boost their daily crude oil output to 8,000 barrels per day (bpd). Taliban is now drilling new oil wells and aims to generate $500 million in annual revenue from BRICS member China’s investment.

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Humayun Afghan, the spokesperson for Taliban’s Ministry of Mines and Petroleum reported that oil sales touched $80 million. The record number of sales was achieved in just 10 days. The Amu Darya basin in Afghanistan contains 962 million barrels of crude oil and 52,025 billion cubic feet of natural gas. BRICS member China is providing the Taliban with all financial assistance and technology to increase their crude oil output.

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BRICS: Afghanistan’s Taliban Makes $80 Million in Crude Oil Sales

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Source: Reuters

BRICS country China is aiding Afghanistan’s conservative government, the Taliban to be a new competitor in the global crude oil sector. China’s Xinjiang Central Asia Petroleum and Gas Co (CAPEIC) signed a 25-year agreement with the Taliban for crude oil investments. The contract states that BRICS member China will invest $540 million by 2026 to help the Taliban increase crude oil output.

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China is the only BRICS country that’s spreading its arms across the world and aiding developing countries with oil production. The Communist nation has invested in Afghanistan, Pakistan, Sri Lanka, and other African countries through the Belt & Road Initiative.

BRICS wants to dominate the global oil sector and challenge the US dollar’s supremacy. That’s the reason why the BRICS alliance inducted four new oil-producing countries this year. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade.