WASHINGTON -- The United States and Russia are working together on a new United Nations Security Council resolution aimed at putting further pressure on the finances of Islamic State (IS) militants.
Adam Szubin, the acting U.S. undersecretary for terrorism and financial intelligence, said the resolution will "fully criminalize" terror financing and is modeled along the lines of those that targeted Al-Qaeda finances after the September 11, 2001 terror attacks.
He said IS, which holds vast territories in Syria and Iraq, receives about $400 million a year from selling oil and gas.
Asked about Russia's recent charges that Turkey buys oil from IS, Szubin said "we don't see any evidence that the Turkish government is purchasing oil from [IS]."
Szubin said a U.S. raid in May that targeted a senior IS commander helped refine U.S. air strikes to target the group's oil and gas production.
Jets and missiles have hit oil wells, tanker trucks, and small refineries in the area.