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
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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.
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