United Nations seeking to combat financing of terror
United Nations organising a summit of finance ministers to combat “the financing of terrorism” and methods used by IS
The United States is organising a summit of finance ministers from U.N. Security Council nations aimed at strengthening global efforts to combat “the financing of terrorism” with a special focus on methods used by ISIS militants.
AP reports that the December 17 meeting will adopt a new resolution on the sanctions regime against al-Qaeda and the ISIS, focused on the growing ISIS threat.
Treasury Secretary Jacob Lew said cutting ISIS off from the international financial system and disrupting its financing “are critical to effectively combatting this violent militant group.”
“A united international front is vital to achieve that goal, and this meeting marks an important step in coordinating our efforts,” he said in a statement.
The U.S. is working on a draft resolution “that will consolidate and streamline the council’s recent efforts on ISIL financing, as well as include new steps to make the sanctions more effective.”
“The United States is focused on using every tool in its toolbox to defeat ISIL.”
Russia has also circulated a draft resolution aimed at tightening the U.N. crackdown on the financing of IS and other extremist groups.
The Security Council adopted a Russian-sponsored resolution on February 12 which is aimed at halting illicit oil sales, trading in antiquities, and ransom payments for hostages that are key methods used by militant groups to finance their operations.
