India bans oil trade with Al Qaida linked groups

Complying with a United Nations Security Council resolution, India on Tuesday banned oil trade with Islamic State in Iraq and the Levant (ISIL) and other organisations associated with Al Qaida.

"In compliance with United Nations Security Council Resolution No. 2199 [2015]...trade in oil and refined oil products, modular refineries and related materials, besides items of cultural (including antiquities), scientific and religious importance is prohibited with the ISIL, Al Nusrah Front [ANF] and other individuals, groups, undertakings and entities associated, directly or indirectly, with Al Qaida," the Director General of Foreign Trade said in a notification.

Earlier, the Securities and Exchange Board of India (Sebi) had issued warnings to stock exchanges and other market entities against Taliban and Al-Qaida linked organisations and individuals.

The National Securities Depository Ltd (NSDL) and Central Depository Services Ltd (CDSL) had also been issued similar circulars.