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 of sexual assault cases in U.S. schools not reported: AP

    World News CTV News
    BRUNSWICK, Maine -- Chaz Wing was 12 when they cornered him in the school bathroom. The students who tormented him were children, too, entering the age of pimples and cracking voices. Eventually, he swore under oath, the boys raped him and left him bleeding, the culmination of a year of harassment. Source
  • Tornadoes, flooding kill at least 14 in parts of U.S. South, Midwest [Photos] [Video]

    World News Toronto Sun
    CANTON, Texas — At least 11 people have been killed by tornadoes or flooding in the South and Midwest by a storm that also dumped a rare late-season blizzard in western Kansas on Sunday. Tornadoes hit several small towns in East Texas, killing four people. Source
  • 'Guys, I'm not running': Biden plays down presidential bid

    World News CTV News
    MANCHESTER, N.H. - Former U.S. Vice-President Joe Biden insists he is not making another presidential bid in 2020, despite giving a rousing speech to New Hampshire Democrats about restoring dignity to politics and winning back working class voters. Source
  • Body of missing boater recovered near Fort Chipewyan, Alta.; 3 still missing

    Canada News CBC News
    Searchers near Fort Chipewyan, Alta., have recovered the body of one of the four boaters who was reported missing last week. The body of Walter Ladouceur, 42, was recovered Sunday from the Rocher River, RCMP said. Source
  • Fears grow in Japan over North Korean missile capabilities

    World News CTV News
    FUSSA, Japan -- Residents living near U.S. military bases in Japan are facing a fresh reality: Their neighbourhoods are on the frontline of North Korea's dispute with America and if Pyongyang were to attack they would have just minutes to shelter from incoming missiles. Source
  • Tornadoes, flooding kill at least 13 in parts of U.S. South, Midwest [Photos] [Video]

    World News Toronto Sun
    CANTON, Texas — At least 11 people have been killed by tornadoes or flooding in the South and Midwest by a storm that also dumped a rare late-season blizzard in western Kansas on Sunday. Tornadoes hit several small towns in East Texas, killing four people. Source
  • 2 dead after boat sinks off Vancouver Island

    Canada News Toronto Sun
    VICTORIA — Officials say two people are dead and three others are in stable condition after their boat went down off the west coast of Vancouver Island. Coast Guard spokesman Dan Bate says all five people were taken to shore Sunday afternoon, but health officials later confirmed that two of them had died. Source
  • 2 dead, 3 in stable condition after boat goes down off Vancouver Island

    Canada News CTV News
    VICTORIA -- Two people are dead and three others are in stable condition after a fishing boat went down off the west coast of Vancouver Island. All five of the passengers were taken to shore Sunday afternoon, but health officials later confirmed that two of them had died, Coast Guard spokesman Dan Bate said in a statement. Source
  • Venezuela's president hikes minimum wage amid rising protests

    World News CTV News
    CARACAS, Venezuela - Venezuelan President Nicolas Maduro is hiking salaries and handing out free homes as he tries to counter a strengthening protest movement calling for his removal. Maduro said on his Sunday TV show that the minimum wage will rise 60 per cent starting May 1. Source
  • Biden tells New Hampshire crowd: ‘Guys, I’m not running’

    World News Toronto Sun
    MANCHESTER, N.H. — Former Vice-President Joe Biden insists he is not making another presidential bid in 2020, despite giving a rousing speech to New Hampshire Democrats about restoring dignity to politics and winning back working class voters. Source