This is how ISIS makes money off of oil in Syria and Iraq
The Islamic State makes millions in illicit oil sales, with most of it sold to civilians within its territory, other rebel groups, and even the Syrian government, but some say there's no way ISIS can be running the entire operation solo.
"How do tens of trucks with Iraqi and Syrian oil leave the area?" Iraqi Oil Ministry spokesman Asim Jihad asked the Los Angeles Times. "Where is this oil going? Who is dealing with it? Daesh cannot alone deal with this large matter. There must be cooperation with other entities." Russia says it knows who is working with ISIS: Turkey. The Russian government made the accusation after one of its warplanes was shot down by Turkey and says it has proof of the collusion; Turkey says this claim is false.
What is certain is that during the summer of 2014, ISIS took over Syria's eastern Dair Alzour province, seizing several oil fields. Although they don't produce the 385,000 barrels a day that came out of Syria before the civil war broke out, it's estimated that ISIS puts out 30,000 to 40,000 barrels every day. Most of the oil is sold to small, privately-owned refineries run by people not associated with ISIS. They refine and deliver the product, which is mostly consumed inside ISIS territory, although there are reports that illegal oil has made it to Jordan and Turkey. Some experts estimate that ISIS makes $2 million to $3 million a day through these sales, but others say that's way too much, citing a report allegedly from the accounting department of ISIS that shows it makes less than $2 million a month in oil revenue. Watch the BBC News video below for a closer look at the illegal oil business. Catherine Garcia
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Catherine Garcia has worked as a senior writer at The Week since 2014. Her writing and reporting have appeared in Entertainment Weekly, The New York Times, Wirecutter, NBC News and "The Book of Jezebel," among others. She's a graduate of the University of Redlands and the Columbia University Graduate School of Journalism.
-
The teenage 'maths prodigy' who turned out to be a cheat
Under The Radar Jiang Ping defied expectations in a global competition but something wasn't right
By Chas Newkey-Burden, The Week UK Published
-
Puppet shows, pagodas and pho: a guide to Hanoi
The Week Recommends Vietnam's capital city blends the ancient with the new
By Catherine Garcia, The Week US Published
-
'There are benefits, but not acknowledging them would tell only half of the story'
Instant Opinion Opinion, comment and editorials of the day
By Justin Klawans, The Week US Published
-
British warship repels 'largest Houthi attack to date' in the Red Sea
Speed read Western allies warn of military response to Iranian-backed Yemeni rebels if attacks on ships continue
By Richard Windsor, The Week UK Published
-
Houthi rebels claim Red Sea ship attacks
speed read Iran-backed Yemeni group vows to escalate aggression towards Israel-linked vessels in revenge for Gaza war
By Harriet Marsden, The Week UK Published
-
Israel plans next phase of Gaza war as first hostages released
Speed read After four-day ceasefire 'we will not stop' until destruction of Hamas, says Israel
By Harriet Marsden, The Week UK Published
-
Mob storms Russian airport 'looking for Jews'
Speed Read Plane from Israel surrounded by rioters chanting antisemitic slogans after landing in Russia's Dagestan region
By The Week UK Published
-
Tuberville's military promotions block is upending lives, combat readiness, 3 military branch chiefs say
Speed Read
By Peter Weber Published
-
Ukraine's counteroffensive is making incremental gains. Does it matter in the broader war?
Speed Read
By Peter Weber Published
-
US commissions first-ever Navy ship in a foreign port
Speed Read
By Justin Klawans Published
-
British spy chief, Wagner video suggest Prigozhin is alive and freely 'floating around'
Speed Read
By Peter Weber Published