Islamic State militants. (Source: thetower)

The resolution, co-sponsored by Russia and the United States, updates an earlier resolution to add IS to the same level as Al-Qaeda and the Taliban on the list of serious terrorist threats to the world.

The resolution calls on UN member states to take decisive action to prevent IS from generating income through oil sales, antiquities sales, kidnapping for ransom and other criminal activities.

The resolution also requires countries to increase intelligence sharing on terrorist threats and develop common standards to better track terrorist financing. In addition, the new counterterrorism measures adopted include a travel ban on IS members, an asset freeze on them, and a ban on the transfer of weapons to IS.

However, a UN diplomat and a UN official (who asked not to be named) said it would be difficult to cut off IS’s revenue streams because the majority of the group’s budget comes from oil and gas sales, as well as from taxes in areas it controls and extortion. This is different from Al-Qaeda, which raises money mainly by kidnapping for ransom or receiving outside funding.

According to estimates by United Nations officials, IS earns about 500 million USD each year from selling oil extracted in the areas they control.

The resolution to block the sources of income of terrorist organizations was first issued by the Security Council in 1999 and is updated periodically. According to the UN Charter, countries that do not comply with this resolution can be sanctioned by the Security Council./.

According to Vietnam+