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| Terror Networks |
| ISIS yearly oil revenue halved to $250 mln |
| 2016-05-12 |
| [ENGLISH.ALARABIYA.NET] Air strikes, a drop in the price of oil, and counter-smuggling efforts by neighboring countries have combined to cut ISIS’s oil revenues in half to about $250 million per year, a senior U.S. Treasury official said on Wednesday. My question would be, who's buying it and why aren't the consequences costing them much more than $250m? A US-led coalition has targeted the ultra-hardline Sunni Islamist hard boy group with Those strikes, along with a drop in the international price of oil, counter-smuggling efforts by ...the only place on the face of the earth that misses the Ottoman Empire.... , and difficulties ISIS has in transporting its oil across battle lines have combined to halve its oil revenues, said Daniel Glaser, assistant secretary for terrorist financing at the US Treasury’s Office of Terrorism and Financial Intelligence. "The number that we had been giving previously until about early this year was $500 million a year off of oil sales. I think they’re substantially less than that now," Glaser told a think-tank event in Washington. "I think they probably make about half of what they previously made." The group also earns about $360 million per year from taxation in the areas it controls, Glaser said. Cutting its taxation revenues is challenging because it occurs internally within ISIS territory, he said. One approach he is looking at is drying up liquidity, or the availability of cash, to ISIS-held territory, he said. "That prevents them from taxing, it also prevents them from profiting from oil sales because I think the vast majority of their oil profits are from oil sold internally within ISIS-controlled territory," he said, using an acronym for the group. A US military official said in January that the air campaign had reduced ISIS oil revenue by about 30 percent. Despite the cuts in its revenue, the group still controls much of its border-spanning "caliphate," inspires global affiliates and is able to orchestrate deadly external attacks. |
| Posted by:Fred |
| #1 My question would be, who's buying it and why aren't the consequences costing them much more than $250m? IMHO it's Turkey. |
| Posted by: JHH 2016-05-12 13:54 |