UN Security Council Unanimously Adopts Resolution to Cut off Funds for Islamic State

Strategic Insights -

The United Nations Security Council took a significant step to combat terrorism by unanimously adopting a resolution to cut off funds for the extremist group Islamic State (IS). The resolution, jointly drafted by the United States and Russia, aims to freeze the assets of IS and prevent the supply of arms and related material to the group. The measure is part of a broader effort to fight terrorism, which has been linked to weakening financial and regulatory regimes, as well as the exploitation of new technologies and tools by terrorist groups.

Key Takeaways:

  • The UN Security Council unanimously adopted a resolution to cut off funds for the Islamic State (IS), including freezing assets, imposing a travel ban, and imposing an arms embargo.
  • The resolution applies to individuals and entities on the ISIL (Daesh) & Al-Qaida Sanctions List.
  • IS has been linked to the exploitation of oil and gas fields, extortion, undetected cash couriers, kidnapping for ransom, trafficking of humans and arms, and racketeering.
  • The group is estimated to have a multi-million dollar economy in territories under its control.
  • Social media is exploited by IS not only for radicalization and recruiting but also for fundraising.
  • The secretary-general acknowledged the challenge posed by terrorists, who take advantage of weaknesses in financial and regulatory regimes to raise funds and circumvent detection.

Statistics:

  • The UN Security Council unanimously adopted the resolution, with no votes against or abstentions.
  • The resolution aims to freeze the assets of IS and prevent the supply of arms and related material to the group.
  • IS is estimated to have a multi-million dollar economy in territories under its control.
  • The group raises money through the oil trade, extortion, undetected cash couriers, kidnapping for ransom, trafficking of humans and arms, and racketeering.
  • IS has exploited social media for fundraising, involving radicalization and recruiting, as well as fundraising for their activities.

Sources:

  • United Nations Security Council (2015) "UN Security Council Unanimously Adopts Resolution to Cut off Funds for Islamic State"
  • AP News (2015) "U.N. Security Council votes on French-sponsored counter-terrorism resolution aimed at Islamic extremist"
  • UN News Centre (2015) "Secretary-General calls on States to join forces to cut off flows of funds to individuals and entities on ISIL (Daesh) list"
  • UN Secretary-General Ban Ki-moon (2015) "Statement on United Nations Security Council Resolution 2252 (2015)"