UN Security Council unanimously adopted resolution to cut-off supply of funds to ISIS group

216

Who: UN Security Council
What: Unanimously adopted resolution to cut-off supply of funds to ISIS group
When: 17 December 2015

The UN Security Council (UNSC) on 17 December 2015 unanimously adopted resolution to increase sanctions against the Islamic State in Syria and Iraq (ISIS) group and other terrorist groups. The resolution seeks to cut off its revenue flows including ransom payments, no matter by whom.

The resolution was adopted at the first-ever meeting of Finance Ministers of the UNSC. This meeting was presided over by Treasury Secretary Jack Lew of the United States, which holds its monthly presidency.

 

The 15-member body called for enhanced actions, from closing financial system loopholes to stopping the abuse of charitable causes, as well as updating the existing ISIS and Al-Qaida Sanctions List.

Few facts of the Resolution are

• The resolution adopted calls on governments to ensure they have adopted laws that make the financing of ISIS a serious criminal offence.
• It stressed that already existing resolutions mandating States to ensure that financial assets are not transferred to terrorists by persons within their territory shall also apply to the payment of ransoms to individuals, groups, undertakings or entities on the ISIS [Da’esh] and Al-Qaida Sanctions List regardless of how or by whom the ransom is paid.
• The resolution called for increased international cooperation in sharing information and closer collaboration with the private sector to identify suspect transactions.
• It asks member states to promote enhanced vigilance by persons within their jurisdiction to detect any diversion of explosives and raw materials and components that can be used to manufacture improvised explosive devices or unconventional weapons like chemical components, detonators, detonating cord, or poisons.