UN Security Council Agrees to Choke off Islamic State Finances
- Resolution calls nations to monitor and control flow of money
- Russian support was critical to adoption of binding measures
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United Nations Security Council finance ministers adopted a plan to throttle the financial network of Islamic State terror groups and sever their revenue from the sale of oil, antiquities and extortion.
U.S. Treasury Secretary Jacob Lew chaired the first-ever Security Council meeting of finance ministers to vote for a resolution co-authored by the U.S. and Russia. The binding measures include provisions such as travel bans, asset freezes and arms embargo for companies, entities and individuals shown to be helping fund the extremist organization.