Report: ISIS is running out of money

Islamic State is advancing toward Damascus, the Syrian capital, and seizing Assyrian Christian towns near the Turkish border, abducting at least 220 Christians and destroying irreplaceable works of art. But it is also facing setbacks, including an offensive by Kurdish fighters, new U.S.-led airstrikes, and — according to the Syrian Observatory for Human Rights — a cash flow problem.

"They need money," Observatory head Rami Abdulrahman tells Reuters. "Ever since the airstrikes hit their oil facilities and the Turkish border has been harder to cross, they have increased taxes and looked for ways to make money." Things have gotten so tight, he added, that ISIS has started selling scrap metal from bombed factories and other industrial wreckage in eastern Syria.

ISIS has also reportedly run low on foreign hostages to offer for ransom. The group "gets a material amount of its funding from ransom payments," outgoing U.S. Treasury sanctions czar David Cohen told The Wall Street Journal earlier this month. "And it would be to all of our mutual benefit to cut off that source of funding."

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