U.S. says Islamic State has made $1.5 billion from bank looting, oil sales

December 10, 2015 6:23 PM

25 0

U.S. says Islamic State has made $1.5 billion from bank looting, oil sales

LONDON Islamic State militants have looted up to $1 billion from bank vaults in Syria and Iraq and has made at least another half a billion dollars from black market oil sales, senior U.S. Treasury official Adam Szubin said on Thursday.

"ISIL has made more than $500 million from black market oil sales," Szubin, acting Under Secretary for Terrorism and Financial Intelligence with the U.S. Treasury, said in remarks prepared for delivery.

Also read: Italy's Monte Dei Paschi Denies Any ECB Notice

Read more

To category page

Loading...