ISLAMABAD, Dec 4: The United States has frozen $54 million connected to the Taliban and Al Qaeda besides blocking access of 150 individuals and organizations to the US financial system.

“The fight against terrorist financial networks is an absolutely vital part of the coalition’s work,” spokesman of coalition ambassador Kenton Keith told at the daily briefing on Tuesday.

“We are closing down financial networks and freezing bank accounts and other assets in order to cut off financing to terrorist organizations,” he said in a statement.

The Financial Action Task Force - the 29 nation group promoting action to tackle money laundering - has adopted strict new standards to deny terrorist access to the world’s financial system, he said.

He recalled that following the atrocities of September 11, the UN Security Council passed resolution 1373 requiring all nations to keep their financial systems free of terrorist funds. The resolution included specific requirements for reporting, compliance and promoting enforcement by members states, he added.

The United Kingdom, he said, was adopting a specific legislation to freeze terrorist accounts. The European Union finance ministers, he added, were also meeting in Brussels to coordinate action against terrorist financial networks.

“We will pursue our efforts to tackle terrorist finance with every bit as much determination as we pursue our military and other objectives,” he added.

Mr Keith termed the agreement among Afghan groups in Bonn as an historic and remarkable achievement and said it would take Afghanistan to elections in two years time.

He said the key elements of the agreements included setting up of an interim administration for six months, convening of Loya Jirga to put in place a provisional government for 18 months, drafting of the constitution, and holding of elections at the end of the two-year period under UN supervision.

Commenting on a report about the arrest of one American national in Mazar-i-Sharif who was fighting alongside Taliban, he said, he has been identified as John Walker. Mr Keith said that John Walker was in the custody of the US forces and was being treated of his wounds.

On a report that some Afghan commander had been given satellite phones by the coalition forces to coordinate bombing and they had been exploiting the opportunity to target their opponents, he said, “where our goal coincided we have coordinated with northern alliance.” However, he avoided to offer any specific comments.