Shubhangi Bansal of the New York Times writes on the Special Summit on ISIS committee’s attempts at blocking revenue and funding to the global terrorist organization and the black market for oil trade.
An organization grows and its growth depends on the way it is supported. It grows to such an extent that it creates a feeling of terror and awe amongst the people of the world. In the same way the world-wide recognized terrorist group ISIS’s (Islamic State of Iraq and Syria) growth depends entirely on the way it is funded. What acts as its backbone is the revenue it earns on a daily basis: $1 to $4 million per day.
ISIS is supplying oil to the other countries, especially neighboring countries via black marketing. As this oil rate is cheaper than the market, countries feel comfortable in trading such oil and hence accept this illegal trade. On the whole, this is leading to an increase in the ISIS earnings.
The Financial Action Task Force (FATF) declared that oil is the highest source of income for ISIS. To stop this powerful means of income for the ISIS, countries like United States of America, the United Arab Emirates and France have planned several rounds of air strikes. Contrary to this, India finds these airstrikes to be invalid according to the violation of article 48 of the Universal Declaration of Human Rights, which states that the inflow of armed conflicts cannot be borne by civilian populations. As these air strikes pose a great threat to the safety of the Syrian population, the idea is considered invalid by India. This brings a great twist to the entire solution strategy of how to deal with the ISIS as a troublesome issue.
The discussion does not end here. Countries and organisations across the globe should avoid trading with this terrorist organisation to ensure human peace at a large scale. ISIS gets online funding in the name of religion. These terrorist groups influence people to join them and contribute to their cause in the divine act of Jihaad.
Even acts such as extortion, human trafficking, supplying heroine and other drugs and kidnapping are practiced to earn money.
Countries like China urge other nations, like Turkey, to create a backward push to decrease the funding of ISIS. All countries should come together with international communities to work against this problem. The USA has also made efforts to deal with the charities that are supporting ISIS.
The issue does not end here. We look forward to some concrete solution to these problems and hope for better proceedings ahead.