Tackling Daesh’s financing and funding
The Global Coalition is engaged in a comprehensive campaign to disrupt and prevent Daesh from raising, moving and using funds. Together, the Coalition’s 66 members have taken measures to prevent Daesh’s use of the international financial system by designating - domestically, regionally and through existing UN Security Council resolutions - Daesh's senior leaders, facilitators and financiers, freezing their assets and making it more costly and more difficult for them to do business. Over 30 Daesh financiers and facilitators have been designated.
The Coalition has also sought to counter Daesh’s efforts to exploit the economic assets and resources of the Iraqi and Syrian people. The Coalition’s precision air strikes against Daesh-controlled oil fields, infrastructure, and transportation assets are disrupting Daesh’s ability to produce, refine, and sell oil, a primary source of revenue for the group.
In the wake of the plundering of antiquities and destruction of historic sites in Syria and Iraq, the Coalition, UNESCO and the private sector are working together to prevent Daesh profiting from the illicit trafficking of antiquities. Under United Nations Security Council Resolution 2199, the international community has also adopted legally-binding measures to combat the illicit trafficking of antiquities and cultural objects from Iraq and Syria; and Daesh’s illicit purchase of spare parts and equipment for its oil and gas operations. Coalition members also exchange information to identify facilitators, disrupt smuggling routes, and close border crossings used by Daesh to move goods in and out of Iraq and Syria.
In 2015, the Coalition issued a communiqué rejecting the payment or facilitation of ransoms to Daesh, so as to deny Daesh an important source of funds and remove incentives for Daesh to kidnap. Finally, the Coalition is working to prevent Daesh from providing financial or material support to its branches as it seeks to expand its global ambitions.
Coalition airstrike targeting Daesh’s oil infrastructure near Dayr az Zawr, Syria on 29 December 2015
Further information on the Coalition’s efforts to tackle Daesh’s finances and funding are available at the links below:
February 2015 FATF report on ISIL financing
UN Security Council Resolution 2253 banning all support for ISIL and AQ
UN Security Council Resolution 2199 banning trade with ISIL and AQ
UN Sanctions Regimes, including on ISIL and AQ