The Islamic State (IS, formerly ISIS/ISIL) has “ amassed wealth at an unprecedented pace ” and is now “ probably the best-funded terrorist organization ” the US has confronted, according to Treasury undersecretary for terrorism and financial intelligence, David Cohen. READ MORE: Pentagon admits weapons-drop fail as anti-ISIS operation hits $424mn The bulk of the group’s wealth comes from oilfields in Syria and Iraq that are under the IS control, with oil sales earning the group “ approximately $1 million a day ,” the official said on Thursday, speaking at the Carnegie Endowment for International Peace. The vice-president for...
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