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

  • N.S. leaders hitting ridings expected to be competitive in Tuesday's vote

    Canada News CTV News
    HALIFAX -- Nova Scotia's three major party leaders lobbied for every possible vote Sunday, targeting ridings that are expected to be highly competitive in Tuesday's provincial election. NDP Leader Gary Burrill visited a community food centre in the riding of Dartmouth-North, where candidate Susan Leblanc is expected to mount a stiff challenge to incumbent Liberal cabinet minister Joanne Bernard. Source
  • North Korea fires apparent ballistic missile: South Korea military

    World News Toronto Sun
    SEOUL, Korea, Republic Of — North Korea fired a short-range ballistic missile that landed in Japan’s maritime economic zone Monday, officials said, the latest in a string of test launches as the North seeks to build nuclear-tipped ICBMs that can reach the U.S. Source
  • Trump eyes White House overhaul, outside lawyers and PR team

    World News CTV News
    WASHINGTON -- President Donald Trump is considering overhauling his White House staff and bringing back top campaign strategists, frustrated by what he views as his team's inability to contain the burgeoning crisis involving alleged Russian meddling in the 2016 election. Source
  • PM, Scheer talk Parliament, trade in first call after Conservative race [Video]

    Canada News Toronto Sun
    TORONTO — New Conservative leader Andrew Scheer’s victory speech was peppered with attacks on Prime Minister Justin Trudeau. But on Sunday, the two spoke by phone in the aftermath of Scheer’s win, one that now also makes him the official Opposition leader in the House of Commons. Source
  • Trump eyes White House staff overhaul [Video]

    World News Toronto Sun
    WASHINGTON — President Donald Trump is considering overhauling his White House staff and bringing back top campaign strategists, frustrated by what he views as his team’s inability to contain the burgeoning crisis involving alleged Russian meddling in the 2016 election. Source
  • Stolen ambulance driver turns on sirens, leads police on 5-hour chase

    Canada News CTV News
    A 29-year-old man is in police custody after allegedly stealing an ambulance from an Ontario hospital and leading officers on a five-hour, 400-kilometre chase before they were able to stop the rogue emergency vehicle with a spike strip near a popular beach town. Source
  • New candidates go head-to-head during NDP leadership debate

    Canada News Toronto Sun
    OTTAWA — Two new candidates in the NDP leadership race wasted no time going toe-to-toe in their first appearance together Sunday at a leadership debate in Sudbury, Ont. Pat Stogran, who acquired a reputation for being outspoken as the former federal veterans ombudsman, challenged Ontario politician Jagmeet Singh after he suggested “an act of love” is required to connect with Canadian voters. Source
  • Navy SEAL dies during parachute demonstration over Hudson River

    World News Toronto Sun
    JERSEY CITY, N.J. — A Navy SEAL team member has died after his parachute failed to open during a Fleet Week demonstration over the Hudson River. A Navy spokesman said the accident occurred shortly after noon Sunday near Liberty State Park. Source
  • S.Korea military says North Korea fired unidentified projectile

    World News CTV News
    SEOUL, Korea, Republic Of -- North Korea on Monday fired an unidentified projectile off its east coast, South Korea's military said, in what is likely the latest test-launch of a ballistic missile as the North seeks to build nuclear-tipped ICBMs that can reach the U.S. Source
  • N. Korea fires apparent Scud-type missile into eastern waters

    World News CTV News
    SEOUL, Korea, Republic Of -- North Korea fired an apparent ballistic missile that landed in the waters of Japan's economic zone Monday, South Korean and Japanese officials said, the latest in a string of launches as the North seeks to build nuclear-tipped ICBMs that can reach the U.S. Source