China and the Taliban signed an Oil Extraction Agreement
For many in the international community, the Taliban has fallen short of its promises that would have led to its diplomatic recognition. But one country is looking past those shortcomings. Earlier this month, China and the Taliban signed an oil extraction agreement. It was the Taliban’s first major foreign deal since taking power in 2021 and comes amid dramatic shifts in regional power balances.
Speaking during the signing ceremony, the Taliban’s top petroleum official said the deal would extract oil from the northern Sar-e Pul, Jawzjan, and Faryab provinces. China, according to Taliban officials, will invest 150 million dollars a year under the contact, and will create 3,000 local jobs. A year after the US’s chaotic withdrawal, and Russia’s own distraction from its ongoing assault on Ukraine, China has emerged as the premier power looking to tap the country’s vast resources, estimated to be worth more than 1 trillion dollars. This latest oil deal came a day after the Taliban said its forces had killed eight Daesh members, including some who were behind an attack last month on a hotel in Kabul, frequented by Chinese businessmen.
Credit to : Strait Talk