Is The Islamic State Running Out Of Money?

Photo from Langer Report

Reuters: Air strikes help force ISIS to halve fighters' pay: Glaser

U.S.-led air strikes have had a substantial impact on the money Islamic State (IS) makes from oil, and have helped force the militant group to cut its fighters' pay by up to 50 percent, a senior U.S official said on Monday.

Daniel Glaser, assistant secretary for terrorist financing at the U.S. Treasury Department, said the strikes had hit the group's ability to extract, refine and transport oil from territory it controlled in Iraq and Syria.

"When you look at difficulties that we know that they are having with respect to the transport, with respect to the extraction, I think it's fair to say they are no longer able to make money the way they used to be able to," Glaser told a London conference.

The strikes had also targeted cash storage sites which had "literally incinerated millions of dollars".

"(IS) has cut salaries to its fighters in (its de facto capital) Raqqa by up to 50 percent," Glaser added.

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WNU Editor: I first reported on this story last month .... Islamic State Cuts Salaries For Its Fighters By Half. At the time the Islamic State stated that this would be a short term measure, but it looks like it is now becoming a permanent state of affairs.