World News: International Breaking News

How ISIS Makes Tons Of Cash Every Day

Written by - Reviewed by Glozine Team

Published: Aug 29, 2014 | Last Updated: Jan 18, 2016

Foreign Policy revealed that ISIS is now the world’s wealthiest terrorist organization. There are other commentators who believe the group is more dangerous than the Al Qaeda.

Here are the top reasons why they earn so much:

Oil Production

According to Iraq Energy Institute founder Luay Al-Khatteeb of the Brookings Institution ISIS earns $2 million a day from oil production. They can smuggle more than 30,000 barrels of crude oil to neighboring countries everyday.Iraq oil map ISIS

The Al Qaeda offshoot sells oil to Syria, and then it gets transported to Kurdistan, Iran, and Turkey.

Water, Wheat, and Electricity4 water

The terrorist group has control over these major commodities. ISIS uses this leverage to attain its goals. Reports reveal show that ISIS transported over 700 tons of grain from Iraq to Syria. Those grains are from government silos and provincial farms that they raided. It sells the grain via third-party to the government of Iraq.

Mafia-Like

The terrorist group is like the mafia, extorting as many businesses as it can without discrimination. They extort banks, communication companies, and trucking companies. They also engage in criminal acts like kidnapping and carjacking.4 journalist

They demanded $123 million before they ultimately executed journalist James Foley. They are also asking for $6.6 million for the release of the American aid worker they captured from Syria.

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