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The U.S. and Russia will ask the U.N. Security Council on Friday to add the self-proclaimed Islamic State to a resolution aimed at choking off al Qaeda's financing.

The "historic" meeting will be the first to include finance ministers and led by U.S. Treasury Secretary Jacob Lew, said Adam Szubin, director of the U.S. economic sanctions programs and nominee to be Treasury under secretary for terrorism.

"The goal of the meeting is to bolster our international efforts to get at ISIL's sources of revenue, to isolate them from the international financial system and to counter financing of terrorism, more broadly, even beyond ISIL," said Szubin, using the administration's preferred acronym for the Sunni terrorist group.

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