US and European Powers Pledge to Kill Islamic State Cash Flow

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European leaders and US President Barack Obama have agreed during a conference call to work toward dousing Islamic State (IS) funding avenues, said the White House Press Office.
The heads of France, Italy, Germany, the United Kingdom and the United States participated in a video conference call where they reaffirmed their vow to destroy the IS network, while working to curb the IS propaganda machine with a stronger message of their own, according to the White House brief.


The group also discussed the need for cooperation in halting the flow of fighters to IS, while helping to bolster Iraqi Security Forces and moderate Syrian opposition.
The IS, also known as the Islamic State of Iraq and Greater Syria (ISIS) or the Islamic State of Iraq and the Levant (ISIL), has been fighting the Syrian government since 2012. In June 2014, the extremist group expanded its attacks to northern and western Iraq and declared an Islamic caliphate on the territories that had fallen under its control.

The US State Department estimates that some 12,000 foreigners from more than 50 countries are fighting alongside IS militants in the Middle East, being drawn by effective propaganda, aimed at targeting young people.
A US-led coalition is currently carrying out airstrikes against the IS targets in Syria and Iraq. The coalition is comprised of more than 60 countries, according to the State Department.