SSI: No Money Woes for ISIS

Soumya Sharma of the Syrian Arab News Agency reports for the SSI.

Demands for working together echoed in the hall as the committee’s first session started. Brazil, China and Russia all emphasised on the need for international cooperation as a way of defeating ISIS.  While Libya blamed UN intervention for the growth of ISIS in its country, United Arab Emirates called for an international military coalition and ground troops. Opinions were made and countered, as the first day of the Special Summit on ISIS 2017 commenced.

The topic of discussion of the moderated caucus was the funding of ISIS, and a majority of countries seemed to agree that selling oil was one of the main sources of its finance. The United States of America, as usual, pointed fingers towards the Middle East, especially the gulf countries and asked for their cooperation by passing money laundering laws. India too seemed to agree that oil smuggling contributes billions of dollars to the senseless cause of ISIS. While most countries listed resources, China and Russia provided viable solutions. China suggested that monitoring and tackling black markets where the ISIS sells its oil could prove to be effective. Russia proposed that one should ensure that oil does not leave the country.

While there was a lot of talk about ISIS and its oil reserves, Japan was the one to suggest that ransoms and support from foreign fighters also adds to their wealth.  Tax on innumerable necessities was also deemed as an important contributor to ISIS wealth by Somalia. Several attacks were made on Saudi Arabia, regarding reports that certain citizens of the country had provided funds to ISIS.  Saudi Arabia defended itself by saying that it too has been a victim of grave attacks by the ISIS, and the organisation certainly wouldn’t attack someone who helps them thrive. On further deliberation, Syria agreed with other countries on the sources of ISIS wealth and also provided many needed figures to the committee.
The first session of the committee was quite instrumental in determining the exact sources of finance of the ISIS. This can, and will help the international community in preventing any kind of money from falling into the hands of the ISIS. We hope that the ideas and proposals discussed in the committee do not remain just as mere talk and are put into action soon.

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