India bans oil trade with ISIS-linked organisations

Smoke rises from the Baiji oil refinery, parts of which are controlled by the Islamic State in Iraq and Syria militant group, on May 26, 2015.
Smoke rises from the Baiji oil refinery, parts of which are controlled by the Islamic State in Iraq and Syria militant group, on May 26, 2015. PHOTO: REUTERS

NEW DELHI (REUTERS) - India on Tuesday banned trade with Islamic State in Iraq and Syria (ISIS)-linked entities in oil and other products, complying with a United Nations resolution to act against militants active in oil-rich countries such as Iraq, Syria and Libya.

"In compliance with United Nations Security Council Resolution ..., trade in oil and refined oil products, modular refineries and related materials, besides items of cultural (including antiquities), scientific and religious importance is prohibited," India's commerce ministry said in a notification.

The rapid rise of ISIS which first emerged in Syria and Iraq, is worrying Western powers who fear the militant group will forge a base just across the Mediterranean from mainland Europe.

Iraq's Prime Minister Haider al-Abadi earlier this month urged the international community to help prevent the group from gleaning profits from oil smuggling.