01 August 2005
Treasury Department Hails Revised U.N. Anti-Terrorist Resolution
Security Council revises resolution on terrorist financing sanctions
The Treasury Department has welcomed the U.N. Security Council’s revisions to Resolution 1267 governing international efforts to impose financial sanctions on terrorist groups and sponsors of terrorism.
"The strengthened resolution is vital to further impede – both financially and logistically – Osama bin Laden and his followers," said Stuart Levey, Treasury's under secretary for the Office of Terrorism and Financial Intelligence (TFI), in an August 1 press release.
When a group or individual is listed on the 1267 Committee’s list, all U.N. member states are required to freeze the assets of the group or person and prevent listed individuals from traveling.
The revisions to the resolution clarify the language regarding the groups and individuals targeted for sanctions, reauthorize the U.N. team monitoring the implementation of sanctions, provide guidelines for member states’ efforts to impose sanctions and create a mechanism for states to report their implementation efforts.
Following is the text of the Treasury Department press release:
(begin text)
U.S. Department of the Treasury
August 1, 2005
Press release JS-2667
Treasury Hails Passage of UN Resolution Tightening Sanctions Against the Taliban, UBL and Al Qaida
The U.S. Department of the Treasury today praised the passage of a UN Security Counsel Resolution (UNSCR) further tightening global sanctions against the Taliban, al Qaida and Usama bin Laden.
"The strengthened resolution is vital to further impede – both financially and logistically – Usama bin Laden and his followers," said Stuart Levey, Treasury's Under Secretary for the Office of Terrorism and Financial Intelligence (TFI).
The resolution renews and strengthens UNSCR 1267 against the Taliban, and carries with it the consolidated list of terrorists tied to the Taliban, UBL and al Qaida. Inclusion on the 1267 Committee's list triggers international obligations on all UN member countries, requiring them to freeze the assets and prevent the travel of listed individuals and to block the sale of arms and military equipment.
"This vote is a result of the U.S. Government's determination and dedication to disrupting the financial networks fueling terrorism. The State Department should be praised for its extraordinary diplomatic efforts and engagement with our international partners to help get the resolution passed at the UN," Levey continued.
The Resolution sets forth a vigorous global campaign against terrorist financing by bolstering the targeted financial sanctions against terrorists and their support networks, notably by:
-- Clearly defining "association" for purposes of aggressively targeting the networks supporting the Taliban, UBL and al Qaida;
-- Reauthorizing the 1267 Committee's Monitoring Team, which has done important work in both advising the Committee and monitoring member states' implementation of the resolution.
-- Endorsing standards by the Financial Action Task Force (FATF), which provide a framework and operational guidance for states to develop effective targeted financial sanctions regimes; and
-- Obliging states to report on specific actions taken to implement designations through the adoption of an Annex reporting form capturing the effects of prospective designations.
In addition, the resolution clearly addressed due process concerns while upholding the sanctions by:
-- Urging states to adopt national delisting procedures in accordance with the Committee's guidelines;
-- Calling on states to implement effective licensing procedures in accordance with UNSCR 1452; and
-- Calling on states to notify designees, to the extent possible, of the measures imposed on them and on the delisting and licensing procedures available to them.
(end text)
(Distributed by the Bureau of International Information Programs, U.S. Department of State. Web site: http://usinfo.state.gov)
|
NEWSLETTER
|
| Join the GlobalSecurity.org mailing list |
|
|
|
