IS "Profits from Oil Sales"

By John Lee.

According to a report from Reuters, Islamic State (IS, ISIS, ISIL) militants fighting in Iraq are selling oil from oilfields and refineries they control to local communities and smugglers, augmenting their existing ample finances.

It is understood that at least some of the oil is used to fuel a power plant they seized after the radical Islamists captured large tracts of Iraq including the country's second city Mosul, killing thousands and causing hundreds of thousands to flee, the officials said.

U.S. intelligence officials, who briefed reporters on condition of anonymity, said the militants now have "hundreds of millions of dollars" at their disposal, having taken over state banks and looted homes and businesses.

"At this point (the group) is overwhelmingly self- financing," one official said. But the officials said the group also has to pay its fighters and finance the operation of public services in territory it controls.

At some point, the intelligence officials predicted, the group is likely to find itself overextended, particularly if it keeps expanding the areas it controls.

(Source: Reuters)

(Terrorism image via Shutterstock)


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6 Responses to IS "Profits from Oil Sales"


  1. Notice: Only variables should be assigned by reference in /srv/users/ibn/apps/ibn/public/wp-content/plugins/subscribe-to-comments/subscribe-to-comments.php on line 590
    How Iraq’s black market in oil funds ISIS | Living With Diabetes
    18th August 2014 at 11:35 #

    […] ISIS control just a few marginal fields in Iraq’s North, but they are enough to fund the terrorist group’s self-sufficiency. […]


  2. Notice: Only variables should be assigned by reference in /srv/users/ibn/apps/ibn/public/wp-content/plugins/subscribe-to-comments/subscribe-to-comments.php on line 590
    How black market oil funds ISIS | Forex Protocol News
    19th August 2014 at 00:45 #

    […] ISIS control just a few marginal fields in Iraq’s north, but they are enough to fund the terrorist group’s self-sufficiency. […]


  3. Notice: Only variables should be assigned by reference in /srv/users/ibn/apps/ibn/public/wp-content/plugins/subscribe-to-comments/subscribe-to-comments.php on line 590
    How Iraq’s black market in oil funds ISIS. By Luay al-Khatteeb *, | Iraqi Economists Network
    20th August 2014 at 10:10 #

    […] ISIS control just a few marginal fields in Iraq’s north, but they are enough to fund the terrorist group’s self-sufficiency. […]


  4. Notice: Only variables should be assigned by reference in /srv/users/ibn/apps/ibn/public/wp-content/plugins/subscribe-to-comments/subscribe-to-comments.php on line 590
    ISIS and its million dollar oil trade | Nanotec
    21st August 2014 at 09:10 #

    […] ISIS control usually a few extrinsic fields in Iraq’s north, though they are adequate to account a belligerent group’s self-sufficiency. […]


  5. Notice: Only variables should be assigned by reference in /srv/users/ibn/apps/ibn/public/wp-content/plugins/subscribe-to-comments/subscribe-to-comments.php on line 590
    How Iraq’s ‘black gold’ funds ISIS |
    23rd August 2014 at 06:14 #

    […] ISIS control just a few marginal fields in Iraq’s north, but they are enough to fund the terrorist group’s self-sufficiency. […]


  6. Notice: Only variables should be assigned by reference in /srv/users/ibn/apps/ibn/public/wp-content/plugins/subscribe-to-comments/subscribe-to-comments.php on line 590
    How Iraq’s black market in oil funds ISIS | The Counter Jihad Report
    24th August 2014 at 13:15 #

    […] ISIS control just a few marginal fields in Iraq’s north, but they are enough to fund the terrorist group’s self-sufficiency. […]

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  1. Notice: Only variables should be assigned by reference in /srv/users/ibn/apps/ibn/public/wp-content/plugins/subscribe-to-comments/subscribe-to-comments.php on line 590
    How Iraq’s black market in oil funds ISIS | Living With Diabetes
    - 18th August 2014

    […] ISIS control just a few marginal fields in Iraq’s North, but they are enough to fund the terrorist group’s self-sufficiency. […]


  2. Notice: Only variables should be assigned by reference in /srv/users/ibn/apps/ibn/public/wp-content/plugins/subscribe-to-comments/subscribe-to-comments.php on line 590
    How black market oil funds ISIS | Forex Protocol News
    - 19th August 2014

    […] ISIS control just a few marginal fields in Iraq’s north, but they are enough to fund the terrorist group’s self-sufficiency. […]


  3. Notice: Only variables should be assigned by reference in /srv/users/ibn/apps/ibn/public/wp-content/plugins/subscribe-to-comments/subscribe-to-comments.php on line 590
    How Iraq’s black market in oil funds ISIS. By Luay al-Khatteeb *, | Iraqi Economists Network
    - 20th August 2014

    […] ISIS control just a few marginal fields in Iraq’s north, but they are enough to fund the terrorist group’s self-sufficiency. […]


  4. Notice: Only variables should be assigned by reference in /srv/users/ibn/apps/ibn/public/wp-content/plugins/subscribe-to-comments/subscribe-to-comments.php on line 590
    ISIS and its million dollar oil trade | Nanotec
    - 21st August 2014

    […] ISIS control usually a few extrinsic fields in Iraq’s north, though they are adequate to account a belligerent group’s self-sufficiency. […]


  5. Notice: Only variables should be assigned by reference in /srv/users/ibn/apps/ibn/public/wp-content/plugins/subscribe-to-comments/subscribe-to-comments.php on line 590
    How Iraq’s ‘black gold’ funds ISIS |
    - 23rd August 2014

    […] ISIS control just a few marginal fields in Iraq’s north, but they are enough to fund the terrorist group’s self-sufficiency. […]


  6. Notice: Only variables should be assigned by reference in /srv/users/ibn/apps/ibn/public/wp-content/plugins/subscribe-to-comments/subscribe-to-comments.php on line 590
    How Iraq’s black market in oil funds ISIS | The Counter Jihad Report
    - 24th August 2014

    […] ISIS control just a few marginal fields in Iraq’s north, but they are enough to fund the terrorist group’s self-sufficiency. […]