UN's Resolution to Put Check to ISIS Group Financing

Published: 07th February 2015 01:04 PM  |   Last Updated: 07th February 2015 01:04 PM   |  A+A-


UNITED NATIONS: The UN Security Council plans to adopt a resolution next week aimed at halting funding to Islamic State militants from oil, antique trafficking and ransoms, diplomats have said.

A draft text, drawn up by Russia, was distributed to the 15 member countries ahead of closed-door discussions.

The resolution was completed after dialogue with the United States and Europe. It draws largely on previous UN sanctions on organisations and individuals affiliated with Al-Qaeda, particularly the freezing of assets and an arms embargo.

Russian Ambassador Vitaly Churkin, anticipating adoption of the resolution on Tuesday, spoke of a "very positive" response to the measure.

British ambassador Mark Lyall Grant said no country had raised opposition to the resolution. "I don't think this is a fundamental shift but it is anadditional legislative act by the council," he said yesterday. "It demonstrates our determination to tackle ISIL."

The council in August adopted a resolution to cut off sources of financing and the flow of foreign fighters to Iraq and Syria, warning countries they could face sanctions if they trade in oil with the Islamists.

"These are already pretty robust, binding obligations and our goal was to expand and clarify and drill down what these obligations mean, how they apply in the context of oil smuggling particularly," a US official said on condition of anonymity.

The official added that the text should be adopted next week, but clarified that its enforcement would be difficult due to the multitude of intermediaries who deal with the jihadists.

"We hope these norms and provisions will have a real impact," he said. One of the resolution's provisions specifically prohibits the trafficking of art and antiquities from Syria, where IS controls a substantial swath of territory. A similar ban already applies to Iraq.

It also reiterated that member states are obliged to refrain from direct trade of oil with IS. A UN report released in November estimated that the militants earned USD 850,000 to USD 1.65 million per day selling oil to private intermediaries. The report recommended that tanker trucks from IS-controlled territories be blocked completely.

Stay up to date on all the latest World news with The New Indian Express App. Download now


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp