ISIS Earned $500 Million From Oil Production: Report - NBC New York
National & International News
The day’s top national and international news

ISIS Earned $500 Million From Oil Production: Report

    processing...

    NEWSLETTERS

    ISIS Earned $500 Million From Oil Production: Report
    ASSOCIATED PRESS
    Adam Szubin, director of Treasury's Office of Foreign Assets Control, right, accompanied by Andrew Natsios, the president's Special Envoy for Sudan, gestures during a press briefing on Darfur and the U.S. imposed sanctions, Tuesday, May 29, 2007, at the State Department in Washington.

    ISIS doesn't have to look far to find customers for its multi-million dollar oil business, NBC News reported.

    The group has sold $500 million in oil, according to Reuters.

    In a detailed public explanation of ISIS' oil trade, Treasury Department official Adam Szubin said militants were selling as much as $40 million a month of oil at production centers then spirited on trucks across the battlelines of the Syrian civil war and sometimes further.

    "[ISIS] is selling a great deal of oil to the Assad regime," Szubin, acting under secretary for Terrorism and Financial Intelligence with the Treasury, told an audience at Chatham House in London.