Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Islamic State turns to selling fish, cars to offset oil losses: report
Source: Reuters
World | Thu Apr 28, 2016 12:04pm EDT
Islamic State turns to selling fish, cars to offset oil losses: report
BAGHDAD | BY STEPHEN KALIN
Islamic State earns millions of dollars a month running car dealerships and fish farms in Iraq, making up for lower oil income after its battlefield losses, Iraqi judicial authorities said on Thursday.
Security experts once estimated the ultra-radical Islamist group's annual income at $2.9 billion, much of it coming from oil and gas installations in Iraq and Syria.
The U.S.-led coalition has targeted Islamic State's financial infrastructure, using air strikes to reduce its ability to extract, refine and transport oil and so forcing fighters to reportedly take significant pay cuts.
Yet the militants, who seized a third of Iraq's territory and declared a caliphate in 2014, seem to be adapting again to this latest set of constraints, in some cases reviving previous profit-turning ventures like farming.
[font size=1]-snip-[/font]
Islamic State turns to selling fish, cars to offset oil losses: report
BAGHDAD | BY STEPHEN KALIN
Islamic State earns millions of dollars a month running car dealerships and fish farms in Iraq, making up for lower oil income after its battlefield losses, Iraqi judicial authorities said on Thursday.
Security experts once estimated the ultra-radical Islamist group's annual income at $2.9 billion, much of it coming from oil and gas installations in Iraq and Syria.
The U.S.-led coalition has targeted Islamic State's financial infrastructure, using air strikes to reduce its ability to extract, refine and transport oil and so forcing fighters to reportedly take significant pay cuts.
Yet the militants, who seized a third of Iraq's territory and declared a caliphate in 2014, seem to be adapting again to this latest set of constraints, in some cases reviving previous profit-turning ventures like farming.
[font size=1]-snip-[/font]
Read more: http://www.reuters.com/article/us-mideast-crisis-islamicstate-finances-idUSKCN0XP2CV
1 replies
= new reply since forum marked as read
= new reply since forum marked as read
