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Saturday, December 19, 2015

UN adopts resolution targeting ISIS finances

Finance ministers from the UN Security Council on Thursday unanimously adopted a wide-ranging resolution aimed at ramping up sanctions against the Islamic State (ISIS) group and cutting off its revenue flows.

U.S. Treasury Secretary Jacob Lew led the council's first-ever meeting of finance ministers, shoring up a major diplomatic push to end the war in Syria, where ISIS jihadists control a large swathe of territory and have installed their de facto capital.

The resolution calls on governments to ensure they have adopted laws that make the financing of ISIS and of foreign fighters who join its ranks a serious criminal offense.

Drafted by the United States and Syrian ally Russia, the measure updates a previous resolution that set up an Al-Qaeda blacklist, which will be renamed the "ISIL (Daesh) and Al-Qaeda sanctions list" to signal the UN's stronger focus on the ISIS extremists. (READ MORE)