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Macron Proposes to Create International Coalition Against Terrorism Financing

© REUTERS / Jonathan ErnstHand written edits can he seen on French President Emmanuel Macron's speech as he addresses a joint meeting of the U.S. Congress in the House chamber of the U.S. Capitol in Washington, U.S., April 25, 2018
Hand written edits can he seen on French President Emmanuel Macron's speech as he addresses a joint meeting of the U.S. Congress in the House chamber of the U.S. Capitol in Washington, U.S., April 25, 2018 - Sputnik International
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PARIS (Sputnik) - French President Emanuel Macron proposed on Thursday to create an international coalition of countries and organizations to fight against the financing of terrorism.

"The first and the most important obligation that we should take on… is to form a coalition of states and organizations that are represented here," Macron said at an international conference to combat terrorism financing.

The two-day international conference kicked off earlier in the day. According to the French Foreign Ministry, the event brings together representatives of 70 states and 20 regional organizations in order to discuss possible ways to detect terrorists' investments in legal business and stop their financing.

READ MORE: France Detects Over 400 Daesh Donors Financing Terror Attacks — Report

At the moment, according to the Europe 1 radio broadcaster, the Daesh* leadership could possess about 3 billion euros (over $3.6 billion) due to the exploitation of formerly occupied territories of the Middle Eastern countries, where the terrorist organization controlled large shares of local cereal, cotton and oil production. The accumulated funds had been invested in legal projects, like fishing farms in Iraq.

*Daesh (also known as IS/ISIL/ISIS/) is a terrorist organization, banned in Russia

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