Special to WorldTribune.com

The Untied Nations on Dec. 17 adopted a resolution aimed at cutting “the flow of funds” to Islamic State of Iraq and Levant (ISIL).

“While we are making progress to financially isolate ISIL, if we are to succeed we all must intensify our efforts, on our own and together at the international level,” said U.S. Treasury Secretary Jacob Lew, who led the UN Security Council’s first-ever meeting of finance ministers.

The resolution, drafted by the United States and Russia, updates a previous resolution that set up an Al Qaida blacklist, which will be renamed the “ISIL (Daesh) and Al Qaida sanctions list” to signal the UN’s stronger focus on the ISIL terror organization.

The resolution calls on nations to “move vigorously and decisively to cut the flow of funds, and other financial assets and economic resources” including oil and artifacts, to ISIL and to “more actively” submit names to the sanctions list.

UN Secretary-General Ban Ki-moon was asked to prepare a report to be released in early 2016 on the ISIL threat and its revenue streams and its funding of foreign fighters.

ISIL is said to have made up to $1.5 billion alone from black market oil sales and robbing banks in Syria and Iraq.

  Jacob Lew, UN resolution takes aim at ISIL finances, UN Security Council, WorldTribune.com