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mwrightc

ISIS is broke, and only accepting payments in US dollars | New York Post - 1 views

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    Faced with a cash shortage in its so-called caliphate, the Islamic State group has slashed salaries across the region, asked Raqqa residents to pay utility bills in black market American dollars, and is now releasing detainees for a price of $500 a person. After America blew up Isis's money hideout, they have hit a skid with the money not coming in and the war still raging on.
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    The US was able to commit such detrimental airstrikes to ISIS currency storage facilities that the "caliphate" is now cutting salaries. Millions of their finances have been drained since this attack.
wmulnea

Islamic State gains Libya foothold - BBC News - 0 views

  • "It is a failed state. Unlike other countries in the region, it does not have a semblance of government. This makes it the most vulnerable,"
  • Moreover, Libya is rich in oil and, earlier this month, gunmen claiming to represent IS raided a French-run oil facility in al-Mabruk, south of Sirte city,
  • many IS-aligned fighters collect salaries from the Libyan state," Jason Pack, a researcher in Libyan history at the UK's Cambridge University, told the BBC.
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  • Mr Pack points out that the country has three main power blocks: Libya Dawn (a mixture of Islamist and non-Islamist militias allied with the Tripoli-based government), Operation Dignity (led by forces loyal to General Khalifa Haftar and allied with the internationally recognised government based in the eastern city of Tobruk) and Jihadist groups (which include IS, al-Qaeda and Ansar al-Sharia - the most powerful of them). "There is a civil war between the two main groups [Libya Dawn and Operation Dignity]. The jihadists act as spoilers," Mr Pack says.
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    BBC discusses the effect of IS and the current political state of Libya.
wmulnea

The Isis economy: Meet the new boss - FT.com - 0 views

  • Iraq’s second city of Mosul looks like a model of success for its new rulers from the Islamic State of Iraq and the Levant
  • But in the back alleys, litter fills the streets. The lights stay on, but only because locals rigged up generators themselves. And under the blare of café televisions, old men grumble about life under Isis’s self-proclaimed caliphate.
  • “We’ve endured international sanctions, poverty, injustice. But it was never worse than it is now.”
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  • Abu Ahmed at first welcomed the takeover by Isis,
  • Sunni Muslims in both countries have long felt discriminated against by regimes dominated by rival sects
  • without an economy that gives people a chance to make a living, many say Isis has little more to offer
  • “Compared to past rulers, Isis is a lot easier to deal with. Just don’t piss them off and they leave you alone,” says Mohammed, a trader from Mosul. “If they could only maintain services — then people would support them until the last second.”
  • “They’re operating like something between a mafia, an insurgency and a terror group. Maybe they thought six months ago they were going to function as a state. But they don’t have the personnel or manpower.”
  • the FT found its attempt at state-building has so far failed to win over locals.
  • volunteers handing out sacks of wheat stamped with their black and white seal. They even announced plans to issue a currency,
  • In some cases they say Isis takes credit for systems in place before it seized power. In others, locals say it is stealing the resources of the region it seeks to rule
  • Travellers must stock up on Iraqi dinars to use in Iraq, US dollars for the road and Syrian pounds once they arrive.
  • “I’m against Isis with all my heart,” Mahmoud says. “But I can’t help but admire their cleverness.”
  • Isis struggles to balance its books,
  • services continue to function because of the money Baghdad still pays to former civil servants in Mosul. Isis taxes those employees at up to 50 per cent of their salaries.
  • It is as if Isis is financing itself partly through a pyramid scheme, and this has begun to falter.”
  • Though many now question Isis’s economic management, its military prowess and organisational skills are clear.
  • Isis allows easy movement through its territories to facilitate trade. Trucks passing through are taxed about 10 per cent of the value of their cargo.
  • “I may be a Salafi, but I’m not an idiot,” he jokes.
jreyesc

This Is How ISIS Smuggles Oil - 0 views

  • Turkish-Syrian border
  • The militants can make more than $1 million a day selling oil from fields captured in eastern Syria.
  • In recent months, the government has vowed to crack down on illicit oil, and police have targeted smuggling routes, seizing oil drums and digging up pipelines.
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  • helped make ISIS the world’s richest extremists.
  • Rebel groups targeted oil resources from the regime in battles often overshadowed by higher-profile fronts in the war — namely in the provinces of Raqqa and Deir Ezzor, where there were refineries and oil fields.
  • Strapped for cash, the rebels smuggled some of the oil to buyers in Turkey, whose government was one of the Syrian opposition’s main backers, having already opened its borders to activists, fighters, and refugees.
  • Omar would receive a call from a commander in the Free Syrian Army (FSA), the U.S.-backed rebel coalition, telling him to head to the Syrian side of the border.
  • If he took in $1,500 in a night, he would give $500 to the FSA commander and another $500 to the Turkish border guards. “You can’t really say that we are smuggling oil, because we take permission from the Turkish side and the Syrian side,” Omar said. “But since it’s under the table, we call it smuggling.”
  • it controlled Raqqa, and soon after it was battling for control of the rebel-held parts of Deir Ezzor.
  • As ISIS gained new oil fields, Omar kept smuggling. He may have worked along an FSA-run border, but he knew he was buying the oil from middlemen who had taken it from ISIS’s hands.
  • For ISIS, the profits were startup funds as it built up its self-styled caliphate, buying weapons and paying salaries.
  • U.S. airstrikes now targeting its oil infrastructure, ISIS can make over $1 million a day from the trade
  • ISIS controls 60% of the oil-producing resources in eastern Syria, he said, plus a handful of marginal oil fields in Iraq.
  • The group sells most of it within its own territory in Iraq and in Syria — which covers more than 12,000 miles, a size comparable to Belgium, and includes some 8 million people, a population approaching Switzerland’s. Desperate residents need the fuel to run their cars, generators, and bakeries.
  • It was the worst example of a wartime pillage that has stripped Syria of everything of value, from scrap metal to precious artifacts. “I just want to show the world what they are doing to my country,” he said.
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    ISIS has become very rich extremist group because of the oil smuggling business they are involved in.
jreyesc

How ISIS makes its millions - CNN.com - 2 views

  • Oil-smuggling operations involving millions of barrels have recently been uncovered.
  • oil comes from wells and refineries that ISIS has taken over inside northern Iraq and northern Syria
  • until very recently it was easy to smuggle it into this quiet part of southern Turkey.
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  • Turkey, just a half hour's drive away, gasoline costs roughly $7.50 per gallon
  • believes ISIS takes in millions of dollars a month.
  • how much the group spends -- is huge, including salaries, weapons and other expenses.
  • Besides revenue from oil smuggling, the group receives money through donations from wealthy sympathizers in countries including Qatar and Kuwait.
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    This article goes into specific into the way the Islamic State makes their money like oil smuggling. They talk about how IS is taking control of oil wells and refiners.
wmulnea

Is Libya on the brink of a new civil war? - Al Jazeera English - 0 views

  • former rebel fighters who helped to oust Gaddafi are now jostling among themselves for power
  • The country is flooded with weapons
  • In the past year alone, more than 80 people, many of them high-ranking military and police figures, have been killed in eastern Libya.
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  • Libya's Prime Minister Ali Zeidan
  • The country's prime minister recently called on western powers to help him stop the spread of what he calls 'militancy' in his country.
  • There are more than 225,000 Libyans registered in militias. They receive state salaries but often act outisde of government control, taking orders from local or political commanders.
  • Groups in Libya's eastern Cyrenaica region and in the southern Fezzan region have called for independence
  • In Cyrenaica, former rebel leader Ibrahim al-Jathran and his 20,000 men strong militia say they now run local affairs, with Jathran and his men controlling facilities that account for 60 percent of Libya's oil wealth.
blantonjack

ISIS' finances are taking a serious hit, and it's hurting morale inside the terror group - 0 views

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    As a US-led coalition hammers ISIS' oil infrastructure and other financial institutions in the Middle East, the terror group has cut salaries and infighting has broken out within the rank and file and senior leadership. Some units pay has been cut in half, and others are not even being paid. This is causing more in house fighting between the higher ups, which is crippling the ISIL units in general
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