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ISLAMIC STATE Earning Millions By Dumping Oil On Black Market

1,411 views · Published 19 August 2014 · 3:06 · Indexed 14 November 2026

Channel: Wrath0fKhan · 2014 · People & Blogs

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CNN's Christine Romans reports on ISIS selling oil on the black market.

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IS group income drops 30% on lower oil, tax revenue (france24, Apr 18, 2016)
http://f24.my/1SVB451


How Iraq's black market in oil funds ISIS (CNN, Aug 22, 2014)
http://cnn.it/1Arqv2A

"ISIS control just a few marginal fields in Iraq's north, but they are enough to fund the terrorist group's self-sufficiency.
A month ago, the ISIS--controlled oil market in Iraq was reported to be worth *$1 million a day*. Now, with expansion, further control of oil fields and smuggling routes, the market is believed to be raising at least *$2 million a day*. This could fetch them more than *$730 million a year*, enough to sustain the operation beyond Iraq.

ISIS have been battling over Baiji and the refinery is still under siege. However, if ISIS succeed in capturing it, the refinery would be very difficult to operate without capable and technical staff. One important factor for the stability of global markets: ISIS is not yet in the south of Iraq, where the country's true oil bounty lies. Capturing the southern assets of the country would be mission impossible for the group...."



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