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Illicit Oil Trade as Revenue for Terrorists in Iraq, Syria

Security Council concerned about illicit oil trade as revenue for terrorists in Iraq, Syria

28 July 2014

Voicing grave concern over the reported access to and seizure of oilfields and pipelines in Syria and Iraq by the Islamic State in Iraq and the Levant (ISIL) and Jabhat Al-Nusra, the Security Council today underscored that there should be no trade in oil with these terrorist groups.

In a presidential statement, the 15-member body underscored that “any trade of oil with these entities would be inconsistent with the Council’s resolutions and that all States are required to ensure that their nationals and any persons within their territory do not trade in oil with these entities.”

The Council strongly condemned any engagement in direct or indirect trade of oil from Syria and Iraq involving terrorist groups, and emphasized that such engagement constitutes financial support for terrorists.

“The Security Council notes with concern that any oilfields and related infrastructure controlled by terrorist organizations could generate material income for terrorists, which would support their recruitment efforts, including of foreign terrorist fighters, and strengthen their operational capability to organize and carry out terrorist attacks.

All States were reminded that they are required to ensure that their nationals and anyone within their territory not engage in any commercial or financial transactions with or for the benefit, directly or indirectly, of ISIL and Jabhat Al-Nusra with respect to oil in Syria and Iraq.

ENDS

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