ISIS Profits from Captured Oilfields

By Patrick M Schmidt.

The Iraqi government has confirmed that ISIS militants, who maintain a foothold in northern Iraq, are taking advantage of the oil infrastructure they have captured during the previous month of battles with security forces.

ISIS militants have made attempts to keep oil infrastructure intact and to keep petroleum industry employees on the job, so that the group can profit from the energy resources of the region.

Officials believe that ISIS is transporting oil overland from oilfields outside of Mosul and Tikrit to Syria to help fund their terrorist organization.

After processing the oil in Syria, the refined products are smuggled back into Iraq and sold to the populace in ISIS controlled territory. ISIS makes a profit from these activities by pricing their stolen oil products about three times above market price.

(Source: RT)

(Terrorism image via Shutterstock)

Tags: , , , , , ,
Comments are closed.