The United Nations Security Council has adopted a new resolution aimed at cracking down on Islamic State (IS) funding including ransom payments and any person or group trading with IS.
According BBC, U.S. Republicans are trying to toughen the legislation sent to Congress by President Barack Obama authorizing military action against IS.
The international community has united against targeting IS as the UN resolution was passed unanimously.
IS militants are earning up to 1.65 million dollars per day from oil sales and at least 35 million dollars per year from ransom payments, said a UN report.
The UN resolution will most likely put pressure on Turkey as the country is believed to be a key transit point with its trucks going to Iraq and Syria with refined products.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
