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

  • Memorial site: Alberta apologizes to families for cleaning up plane wreckage

    Canada News CTV News
    WHITECOURT, Alta. -- The province of Alberta is apologizing to the families of three people killed in a plane crash almost 65 years ago after cleaning up the wreckage without warning. A memorial site near Whitecourt, Alta. Source
  • Ontario PCs' Urgent Priorities Act to address hydro salaries, York University strike

    Canada News CTV News
    TORONTO -- Ontario's new Progressive Conservative government has introduced legislation that, if passed, would give it sweeping new powers over executive compensation at Hydro One. The bill, dubbed the Urgent Priorities Act, was introduced today by Energy Minister Greg Rickford and would give the government authority to approve executive compensation at the utility. Source
  • 'This is shameful': Trump's news conference with Putin stuns fellow Republicans

    World News CBC News
    On a trip in which Donald Trump dumbfounded allies and his usual critics in the Democrat Party with comments concerning the European Union and British leaders, the U.S. president ended with a news conference performance at his first head-to-head summit with Russia President Vladimir Putin that had even some Republicans shaking their heads. Source
  • Lawmakers call Trump's performance 'bizarre,' 'shameful'

    World News CTV News
    WASHINGTON -- Key members of Congress, including some Republicans, are criticizing U.S. President Donald Trump's performance at a press conference with Russian President Vladimir Putin as "bizarre," "shameful" and a "missed opportunity" to stand up to Russia. Source
  • Members of Trudeau's youth council urge cancellation of Kinder Morgan buyout

    Canada News CBC News
    Members of Justin Trudeau's youth council are urging the prime minister to withdraw his decision to buy Kinder Morgan's Trans Mountain pipeline. Sixteen past and present members of the youth council are releasing a letter to Trudeau expressing their "disappointment" in the Liberal government's move to buy the pipeline project for $4.5 billion. Source
  • Judge temporarily halts deportation of reunified families

    World News CTV News
    SAN DIEGO -- A federal judge on Monday ordered a temporary halt to any deportations of reunited families who were separated by the Trump administration after crossing the southwest border. The American Civil Liberties Union had asked Judge Dana Sabraw to delay deportations a week after reunification. Source
  • 'A class act': Ray Emery played in a Hamilton charity hockey game the night before he died

    Canada News CBC News
    Ray Emery was giving back to Hamilton and playing the game he loved the night before he died. The ex-NHL goalie was one of several current and former professional players who hit the ice as part of Hockey Night in Hamilton, a charity game that raised funds for Food4Kids. Source
  • Workers at Goderich salt mine accept deal to end 12-week strike

    Canada News CBC News
    The 12-week strike at the salt mine in Goderich, Ontario is over. Workers voted Monday to accept a three-year deal reached between Unifor Local 16-0 and the mine owner, Compass Minerals. The salt mine, the world's largest, employs more than 350 unionized workers. Source
  • Iran arrests 46 in fresh crackdowns on Instagram models

    World News CTV News
    TEHRAN, Iran -- Iranian authorities have arrested dozens of people in fresh crackdowns on models and associated colleagues posting "immoral images" online. The official IRNA news agency reported Monday that officials in the southern port city of Bandar Abbas, some 1250 kilometres, or 630 miles, south of the capital Tehran, arrested eight women and 36 other people in the photography, beauty salons and wedding businesses who used Instagram to share what they considered indecent images and…
  • 'Kloe inside washer': Mom's post about girl trapped in front-loading machine goes viral

    World News CTV News
    A mother is warning other parents about the dangers of front-loaded laundry equipment after her three-year-old daughter became trapped in a new washing machine. Lindsey McIver’s story has garnered more than 250,000 shares on Facebook since July 11. Source