Militant Islamist fighters parade on military vehicles along the streets of northern Raqqa province. (photo credit:REUTERS)
Islamic State: Oil Magnates of Terror -- Bloomberg Businessweek
Since it swept across northern Iraq in early June, capturing towns, refineries, and oil wells along the way, the terrorist group calling itself Islamic State may be making more money than any other terrorist group, according to U.S. intelligence officials and antiterrorism finance experts. While al-Qaeda, Hezbollah, and Hamas depend on the kindness of wealthy sympathizers and state sponsors, Islamic State finances itself almost entirely through revenue from extortion, taxes, and especially illicit oil sales. “Islamic State is probably the wealthiest terrorist group we’ve ever known,” says Matthew Levitt, a former U.S. Department of the Treasury official who directs the counterterrorism and intelligence program at the Washington Institute for Near East Policy.
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More News On The Islamic State's Rapidly Growing War Chest
Islamic State group's war chest is growing daily -- Stars and Stripes/AP
Oil, Extortion and Crime: Where ISIS Gets Its Money -- NBC
The Taliban With Oil Fields: Islamic State a Formidable Money Machine -- Bloomberg
Islamic State's financial independence poses quandary for its foes -- Jerusalem Post
Islamic State sells ‘blood antiquities’ from Iraq and Syria to raise money -- Mark V. Vlasic, Washington Post
How the Islamic State is faring since it declared a caliphate -- The Economist
To Defeat the Islamic State, Follow the Money -- Politico
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