Arab Today, arab today daesh earns 1m from oil sales
Last Updated : GMT 21:25:08
Arab Today, arab today
Arab Today, arab today

Daesh earns $1m from oil sales

Arab Today, arab today

Arab Today, arab today Daesh earns $1m from oil sales

Oil sales
Washington - MENA

 David Cohen, the Treasury Department's under secretary for terrorism and financial intelligence, said Daesh earns about $1 million each day in oil sales.
"The group has netted approximately $20 million in ransom payments this year. It also raised funds through local extortion and crime, like robbing banks," said the US official in statements at the Carnegie Endowment for International Peace in Washington on Thursday.
He also said the group is garnering wealth at an alarmingly quick pace, with large chunks coming from black-market oil sales and ransom payments for hostages.
"To some extent, It poses a different terrorist financing challenge," he said.
"It has amassed wealth at an unprecedented pace, and its revenue sources have a different composition from those of many other terrorist organizations" he said.
Cohen said the Treasury Department would target with sanctions anyone who deals with Daesh stolen oil.

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