G8 leaders agreed on Tuesday to eradicate the payment of ransoms for hostages kidnapped by "terrorists" in an attempt to remove one of the key incentives for extremists. The world's most industrialised nations also called on companies to follow their lead in refusing to pay for the release of abducted employees.
British Prime Minister David Cameron, the summit host, had been keen to push the deal because funds raised by ransom payments are a substantial source of funding for terror groups, especially those in north Africa. Al Qaeda-linked groups around the world have made $70 million (52 million euros) from mainly Western hostages over the last two years, British officials said.
For al Qaeda in the Islamic Maghreb, the north African branch of the extremist group, ransoms obtained have reached 33 million euros over the last three years. The G8 leaders said in their final communique they "unequivocally reject the payment of ransoms to terrorists". They added: "The payment of ransoms to terrorist groups is one of the sources of income which supports their recruitment efforts, strengthens their operational capability to organise and carry out terrorist attacks, and incentivises future incidents of kidnapping for ransom."