Tags: ISIS/Islamic State | Middle East | IHS | ISIS | Monthly Revenue | Drops

IHS Report: ISIS Monthly Revenue Drops to $56 Million

IHS Report: ISIS Monthly Revenue Drops to $56 Million
(AP)

Monday, 18 April 2016 11:44 AM

The monthly cash flow to ISIS jihadists has dropped by almost 30 percent over the last year, dropping to a monthly $56 million — hit by cuts in revenue from oil production and taxes, according to a new analysis.

The IHS Conflict Monitor report
finds about half of Islamic State revenue comes from taxes and "confiscation," 43 percent from oil revenue, and the rest from drug smuggling, electricity sales and donations.

"In mid-2015, the Islamic State's overall monthly revenue was around $80 million," says Ludovico Carlino, an analyst at IHS, which issues regular reports on ISIS-controlled territory.

"As of March 2016, the Islamic State's monthly revenue dropped to $56 million."

Production of oil in ISIS-operated oilfields — the target of bombing by the U.S.-led coalition and Russia — has dropped to 21,000 barrels per day, down from 33,000 last summer, translating into a 26 percent drop in income from crude oil sales, IHS reports.

Additionally, revenue from taxes and confiscation has fallen by about 23 percent since last summer as ISIS lost territory; its population has sunk to 6 million from 9 million, IHS reports.

The declines are affecting other financial streams — like kidnapping, drug smuggling and taxing bank account holders and transactions — and triggering new ways to bump up cash flow, IHS reports.

"These [new] taxes include tolls for truck drivers, fees for anyone installing new or repairing broken satellite dishes, and 'exit fees' for anyone trying to leave a city," Carlino says.

ISIS has also begun to accept cash for fines instead of "hudud" — corporal punishments proscribed under Shari'a law — an indicator of the financial troubles, IHS reports.

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The monthly cash flow to ISIS jihadists has dropped by almost 30 percent over the last year, dropping to a monthly $56 million - hit by cuts in revenue from oil production and taxes, according to a new analysis.
IHS, ISIS, Monthly Revenue, Drops
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2016-44-18
Monday, 18 April 2016 11:44 AM
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