posted by Christopher W. Holton The Islamic State derives at least a significant portion of its income from oil revenue. U.S. air strikes have reduced that revenue stream. Also, because the number of people living under the direct control of the Islamic State has declined, tax revenues have declined. All of this data comes from […]
Airstrikes conducted by the US-led coalition destroyed 116 ISIS-operated fuel trucks in eastern Syria in one day, US defense officials said. A Pentagon spokesperson told the AFP news agency that the trucks were struck on Sunday in a single air strike near the ISIS-controlled town of Albu Kamal. The coalition has previously targeted oil trucks, but a […]
The Islamic State has garnered as much as $1.5 billion in revenue by looting banks and illicit oil proceeds, according to a Treasury Department spokesperson. “Our most recent estimates that we can provide publicly are between $500 million and $1 billion in seized bank assets, based on 2014 data,” the official said. “Earlier this year, (the Islamic State) made […]
Just as we predicted, the collapse in the price of oil is making itself felt in the market for Shariah finance’s favorite instrument: sukuk, also known as Islamic bonds or Shariah bonds. This happened before in 2008-2009. The sukuk bubble may be bursting… Tumbling oil prices are battering Bahrain’s Shariah-compliant bonds. The Gulf nation’s dollar-denominated […]
OPEC-member Islamic nations are starting to feel the pinch of the falling price of oil–so much so that some, like Iran’s president, are making up conspiracy theories about it. Of course, conspiracy theories are nothing new in the Islamic world; they are in fact widespread. It should be noted that the true rise of Shariah […]
German Intelligence Disputes Estimates of Islamic State Oil Income
A German intelligence report suggests estimates of the oil wealth of terror group the Islamic State are wildly overstated. Previously published estimates have suggested that the Islamic State, which controls large swathes of northern Syria and Iraq, could earn up to €3 billion a year from oil fields it controls. But a report from Germany’s Bundesnachrichtendienst (BND), the country’s foreign intelligence service, argues […]
How the Islamic State Smuggles Oil
Turkey is a focal point in the new international fight against ISIS. Its porous, 565-mile border has been a gateway for the foreign extremists who fill the ISIS ranks — and with sky-high domestic fuel prices, it has been a key market for the oil that funds ISIS. http://www.buzzfeed.com/mikegiglio/this-is-how-isis-smuggles-oil
There are few things in life more infuriating than obviously misguided, flawed strategy and tactics employed in war. Unfortunately, the way that the Obama administration has prosecuted the war on terror…or overseas contingency operations…or whatever they’re calling it these days…provides blatant examples of flawed, misguided strategy and tactics. As SFW, Money Jihad blog and other […]
Islamic State Funded By Oil
We actually think the numbers quoted in this article are about a third of the true revenue that the Islamic State garners from oil and the author completely misreads the role of funding from wealthy Muslims in Qatar, Saudi Arabia and other Gulf States, but the article is still worth a look… ISIS reportedly has […]
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