Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

U.N. sets sights on Syria antiquities, Islamic State oil, ransoms

Published 06/02/2015, 21:08
U.N. sets sights on Syria antiquities, Islamic State oil, ransoms
CL
-

By Michelle Nichols and Louis Charbonneau

UNITED NATIONS (Reuters) - The United Nations Security Council appears set to ban all trade in antiquities from war-torn Syria, threaten sanctions on anyone buying oil from Islamic State and al Qaeda-linked Nusra Front militants and condemn paying kidnap ransoms to the groups.

The United States worked with its veto-wielding counterparts on the council - Russia, China, Britain and France - to draft a resolution that was to be circulated to the remaining members of the 15-nation council on Friday, a U.S. official said.

Russia initially suggested the council ratchet up pressure on Islamic State, also known by one acronym as ISIL, diplomats said.

"We're relatively bullish, we think that it is going to enjoy the support of the council," said a U.S. official familiar with the discussions on the resolution, which he said aimed to "degrade ISIL's ability to raise funds, to move funds."

The official added that it was hoped the council could vote as soon as next week. The draft text, obtained by Reuters, seeks to build on previous resolutions on terrorism financing.

It would ban all trade in antiquities from Syria and reaffirms a similar ban imposed by the council on Iraqi artefacts about a decade ago.

The draft expresses concern that Islamic State, al Qaeda-linked Nusra Front and other groups are generating income from the illicit antiquities trade "which is being used to support their recruitment efforts and strengthen their operational capability to organise and carry out terrorist attacks."

The resolution is under Chapter 7 of the U.N. Charter, which makes it legally binding and gives the council authority to enforce decisions with economic sanctions or force. However, it does not authorise using military force.

According to a U.N. report in November, Islamic State has been plundering antiquities in Syria and Iraq and there was also evidence that the group encourages the looting and subsequent smuggling of antiquities, and then taxes the looters. But it said it was very difficult to estimate how much money was generated.

It also said Islamic State raises several million dollars a month from illegal taxation and approximately $96,000 to $123,000 per day from ransom payments, while estimated revenue from crude oil ranged between $846,000 to $1.6 million a day.

However, the Pentagon has said it assessed that oil was no longer the main source of revenue for Islamic State. Western diplomats, speaking on condition of anonymity, have said this was due to air strikes on oil installations and a plunge in oil prices that has affected black market prices as well.

The draft resolution calls on states to consider appropriate measures to prevent the smuggling of weapons, in particular portable surface-to-air missiles, to Islamic State, Nusra Front and other al Qaeda-linked groups.

The council would also push states to take steps to stop the use of aircraft, cars and trucks to smuggle oil, precious metals, grain, livestock, electronics, and cigarettes for international sale or to barter for weapons.

The draft resolution requires states to report back in 90 days on measures they have taken to comply with the resolution.

(Story corrects to clarify in first paragraph that resolution would condemn ransom payments, not threaten sanctions for such payments)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.