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UN resolution seeks to curb Islamic State funding

he finance ministers of the 15 countries in the UN Security Council is expected to adopt a resolution aimed at starving the so-called Islamic state funds.
The draft resolution is based on the one that was first held in 1999 to target the opponent’s jihadist group al-Qaeda.

He urged the country to “move vigorously and decisively to cut the flow of funds” that, for example, by preventing the smuggling of its oil and antiquities.
The militant group is widely considered to be the richest in the world.
Recent studies have shown that his monthly income is $ 80 million (£ 53m).

“Comprehensive strategy”

The summit of finance ministers on Thursday, the UN Security Council in New York will be the first in the 70 year history of the international body.

Developed by the US and Russia and the resolution must be approved unanimously to rename the sanctions Monitoring Committee against Al Qaeda as “Isil (Daesh) and Al-Qaeda sanctions committee,” using the abbreviation, based on the previous group name in English and Arabic.

Any person, group, undertaking or entity, supporting groups and their branches will be subject to UN sanctions, including the freezing of assets, travel ban and arms embargo.
The draft calls on all countries to “more actively present” names for inclusion in the list of sanctions and to exchange information on extremist groups.

It also requires that the present 120 days on what steps they have taken to curb the funding is, and requests the Secretary-General Ban Ki-moon to ensure that “the report of the strategic level” of 45 days to the sources of income for the IS.

A similar resolution was adopted by the Security Council in February, but diplomats have complained that he has been regularly flouted.

Writing in Daily Telegraph on Wednesday, UK Chancellor George Osborne and Foreign Minister Philip Hammond said to be isolated from the international financial system “should be a key element in any comprehensive strategy to degrade and eventually destroy it.”

“Taking advantage of the territory in the east and west of Syria and northern Iraq Daesh allowed to take control of a large number of fields. It extracts oil not only for their own needs, but also for sale at reduced rates of intermediaries,” they added.

“In fact, the Syrian deposits are believed to be providing Daesh with about $ 1.5 million a day. We know that the military action, we are now taking with our allies targeted oil infrastructure are beginning to restrict the resource. But we We can and must do more. ”

UN resolution seeks to curb Islamic State funding


Last week, IHS analysis suggested that the overall monthly income of IS is $ 80 million, with approximately 50% coming from tax on profits of all commercial activities in the areas under its control, and the confiscation of land and property; and about 43% of the smuggling of oil and gas.

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