GLOBAL ECONOMY

Russia hopes to circulate UN resolution soon to tighten crackdown on terrorist financing

Russia's U.N. ambassador says he hopes to circulate a draft resolution to the Security Council very soon that will tighten the U.N. crackdown on the financing of terrorist groups including the Islamic State extremists.

Vitaly Churkin told The Associated Press on Tuesday that the resolution will be a follow-up to the Russian-sponsored resolution adopted unanimously on Feb. 12 which is aimed at halting illicit oil sales, trading in antiquities and ransom payments for hostages that are key methods used by extremist groups to finance terrorist operations.

"We're working on it," Churkin said. It will be circulated "very soon. It's not a complicated thing."

U.S. Ambassador Samantha Power told reporters the United States has "a shared objective" with Russia because it is also focused on cutting off terrorist financing.