UN Security Council to adopt resolution to disrupt Islamic State's funding

Finance ministers from the 15 nations on the UN Security Council will meet Thursday to adopt a resolution aimed at disrupting the outside revenue that the Islamic State extremist group gets from selling oil and antiquities, from ransom payments and other criminal activities.

See Full Article

The Islamic State group is already subject to UN sanctions under resolutions dealing with al-Qaida. But the proposed resolution, sponsored by the United States and Russia, elevates IS to the same level as al-Qaida, reflecting its split from al-Qaida and the growing threat it poses especially in the Mideast and North Africa.

U.S. Treasury Secretary Jacob Lew, who will chair Thursday's meeting, said when the meeting was announced earlier this month that disrupting the Islamic State group's financing and cutting it off from the international financial system "are critical to effectively combating this violent terrorist group."

U.S. Ambassador Samantha Power told reporters Wednesday that the meeting is an unprecedented chance to bring together the people with the technical abilities to track and cut off funds to "starve" the Islamic State group of resources.

The Islamic State group, also known as ISIL and Daesh, controls a large swath of Syria and Iraq, including oil and gas fields, though bombing campaigns by the U.S.-led coalition and ground forces have enabled Iraq to regain some territory.

While the resolution is aimed at cutting off some of IS' outside revenue streams, a UN diplomat and U.S. official said the majority of funding for the extremist group comes from internal sources which are difficult to disrupt. Both spoke on condition of anonymity because they were not authorized to speak publicly.

The U.S. official said getting at IS' revenue is a serious challenge because much of it is internally generated from oil and gas sales which have the potential to generate hundreds of millions of dollars annually as well as from taxation and extortion. This is in contrast to al-Qaida, whose funding typically comes from outside donors, including charities and kidnapping for ransom.

The draft resolution, obtained by The Associated Press, would rename the UN Security Council committee monitoring sanctions against al-Qaida "the ISIL (Daesh) and al-Qaida sanctions committee."

It calls ISIL a splinter group of al-Qaida and stresses that "any individual, group, undertaking, or entity supporting ISIL or al-Qaida" is subject to UN sanctions, including an asset freeze, travel ban and arms embargo.

Power, the U.S. ambassador, said the resolution will be a new piece of international law that "will require countries to do more than they have been doing."

The fact the Islamic State group is still able to traffic in oil and artifacts and extort people is "a problem we should be able to solve," she said.

The draft encourages the 193 UN member states "to more actively submit" names for inclusion on the sanctions list and expresses "increasing concern" at the failure of countries to implement previous sanctions resolutions.

It calls on all countries "to move vigorously and decisively to cut the flows of funds and other financial assets and economic resources" to those on the sanctions list.

The proposed resolution urges countries to share information about extremist groups and calls for a report within 120 days on what every country is doing to tackle the financing of IS and al-Qaida.

It also requests Secretary-General Ban Ki-moon to provide an initial "strategic-level report" in 45 days on the sources of financing of IS and associated groups, including through illicit trade in oil, antiquities and other natural resources, as well as their planning and facilitation of attacks, and to provide updates every four months.



Advertisements

Latest Canada & World News

  • Thousands flee wildfire near Yosemite National Park

    World News CTV News
    MARIPOSA, Calif. -- A blaze burning in foothills west of Yosemite National Park destroyed dozens of structures and forced thousands to flee Gold Rush-era towns but fire crews have been able to stop it from reaching a threatened community on the foothills of the Sierra Nevada. Source
  • Trump reportedly ending CIA plan to arm Syrian rebels

    World News CBC News
    U.S. President Donald Trump has decided to halt the CIA's years-long covert program to arm and train moderate Syrian rebels battling the regime of the nation's president Bashar al-Assad. Russia had long pushed the United States to end the program. Source
  • Thai general among dozens convicted of human trafficking

    World News CBC News
    A Thai army general was one of dozens of people convicted in a major human trafficking trial that included 103 defendants accused of involvement in a modern-day slavery trade. Lt.-Gen. Manas Kongpaen was convicted of several offences Wednesday involving trafficking and taking bribes in the case involving migrants from Myanmar and Bangladesh. Source
  • 8th right whale found dead in Gulf of St. Lawrence, 1 more entangled

    Canada News CBC News
    An eighth North Atlantic right whale has been found dead and another is entangled in fishing gear in the Gulf of St. Lawrence, the Marine Animal Response Society said in a Facebook post. In the past two months, seven other right whales have been found dead in the the Gulf of St. Source
  • 'Get out there, get 'er done and, of course, be safe': Tiny Riske Creek, B.C., fights the fire

    Canada News CBC News
    In the tiny central B.C. community of Riske Creek, logging and ranching are a way of life, but in recent days, many of the 90 or so residents have found themselves on the front line of one of the largest fires in the province. Source
  • Ship that may have sunk admiral's career to be unveiled in Quebec

    Canada News CBC News
    The ship that may have cost the military's second-in-command his career will be formally unveiled in an elaborate ceremony Thursday at Quebec's Chantier Davie Shipyard. The MV Asterix will serve as a temporary naval supply ship, starting early in the new year, after it goes through a series of shakedown trials. Source
  • Supreme Court building to get $1B rehab in 2023, well after systems risk failure

    Canada News CBC News
    The Liberal government has launched a $1-billion project to rehabilitate the crumbling Supreme Court building, though key systems are at risk of failure long before any repairs begin. A water-damaged section of the parking garage roof could collapse by the end of next year, and mechanical and electrical systems are predicted to fail by 2020 and 2021, says an internal document obtained by CBC News under the Access to Information Act. Source
  • Midnight in an Istanbul park: Syrian children play in the shadow of war

    World News CBC News
    It's nearing midnight in a dimly lit park in Istanbul, not far from the sea, and eight-year-old Kais is scooting around on his new bike. He's joined by a dozen other Syrian boys and girls, scampering on the slides and laughing on the swings under a full moon. Source
  • Trump's 'influential' pick for ambassador to Canada faces Senate hearing

    World News CBC News
    U.S. President Donald Trump's pick for the next ambassador to Canada, a deep-pocketed Republican donor with influential allies in Congress and family ties with a Kentucky coal empire, faces her Senate confirmation hearing Thursday. Kelly Knight Craft will testify before the Senate committee on foreign relations in a joint session with Trump's nominees for ambassador to NATO and the U.K. Source
  • Members of Trump's inner circle to face Senate committees

    World News CTV News
    WASHINGTON - Members of the Trump campaign's inner circle, including his eldest son and son-in-law, are being called before Senate committees next week to talk about the 2016 election. The week has the potential to deliver the most high-profile congressional testimony involving the Russian meddling probes since former FBI Director James Comey appeared in June. Source