UN Security Council adopts resolution to curb DAESH funding

United Nations Security Council adopts resolution in attempt to cut off funds for DAESH terrorist group

Photo by: Reuters
Photo by: Reuters

US Secretary of Treasury Jack Lew and British Finance Minister George Osborne vote to a approve a resolution to cut funding for DAESH as they attend a meeting of the United Nations Security Council at UN headquarters in New York on December 17, 2015

Finance ministers from 15 nations on the United Nations Security Council unanimously adopted a resolution on Thursday in an attempt to cut off funds for DAESH terrorist group, as a firm move by the international community to fight terrorism.

Under the resolution, freezing assets, travel bans and arms embargo will be applied against DAESH terrorist group that took control of large swaths of Syria and Iraq, including oil and gas fields.

The resolution will "freeze without delay the funds and other financial assets or economic resources of these individual groups, undertaking and entities, including funds derived from property owned or controlled directly or indirectly, by them or by persons acting on their behalf or at their direction, and ensure that neither these nor other funds, financial assets or economic resources are made available, directly or indirectly for such persons' benefit, by their nationals or by persons within their territory."

Fifteen-nation UN body adopted the resolution at an open meeting chaired by US Treasury Secretary Jacob Lew, whose country holds the rotating council presidency for December.

In 1999, a similar resolution was adopted in an effort to target the Al Qaeda militant group.

The resolution also stated that DAESH is a splinter group of Al Qaeda and added that "terrorism can only be defeated by a sustained and comprehensive approach involving the active participation and collaboration of all States and international and regional organisations to impede, impair, and incapacitate the terrorist threat."

UN Secretary General Ban Ki-moon said that the international community must join forces to prevent them from obtaining and deploying resources to do further harm.

Ban also said that DAESH terrorists were raising money through oil trade, extortion, undetected cash couriers, kidnapping for ransom, trafficking of humans and arms and racketeering and also added that the group loots and sell precious cultural property, profiting from the destruction of humanity’s common heritage.

DAESH exploits its social media outreach not just for radicalisation and recruiting, but also for fund-raising, Ban said.

Bashar al Jafari, Syria’s Permanent Representative to the UN said, "We expect after the adoption of this resolution the Security Council to carry out its responsibilities as required and to tolerate no more the fact that some well-known governments support and finance terrorism that targets the Syrian state and the Syrian people. Those well-known governments also bring and facilitated the passage of foreign terrorist fighters into Syria and trained and armed them as well as their involvement in direct and indirect trafficking of oil and loot Syrian cultural property with terrorists."

The UN Security Council summit of finance ministers that was held in New York on Thursday was the first of its kind in the international community’s 70-year past.

Following the approval of the resolution, the committee monitoring sanctions against Al Qaeda was renamed as "the ISIL [DAESH] and Al Qaeda sanctions committee", using acronyms based on the group’s previous name in English and Arabic.

TRTWorld and agencies