ISIS becomes the richest terrorist group in the world.
On October 23, US officials stated that the self-proclaimed Islamic State (IS) had become the world's richest terrorist group, earning tens of millions of dollars per month from illegal oil sales and ransom payments.
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| ISIS has become the world's richest terrorist group, earning tens of millions of dollars a month from illegal oil sales and ransom payments. |
Responding to the Carnegie Endowment for International Peace (CEIP), U.S. Under Secretary of State for Counterterrorism and Financial Intelligence David Cohen stated: "We don't have a silver bullet, no secret weapon to empty ISIS's coffers overnight. This will be a protracted war, and we are in the early stages. ISIS has captured the world's attention not only for its bizarre ambitions and horrific brutality but also for another reason: its enormous wealth... The fundraising tactics allow them to earn tens of millions of dollars a month today. These tactics include selling stolen oil, demanding ransoms from kidnapped victims, stealing from and extorting the people they rule, and – to a lesser extent – funding from supporters outside Syria and Iraq."
According to Cohen, ISIS sells oil "at a discount to intermediaries, including some in Türkiye, who then resell it." Cohen also suggests that the Syrian government of President Bashar al-Assad appears to have arranged to buy oil from ISIS.
According to CEIP Vice President Marwan Muasher, IS is currently "considered the wealthiest and most financially sophisticated terrorist organization in the world."
Source: VNA
