Turkey and Kurds May Buy Oil from ISIS
On Wednesday, American officials said that ISIS earned wealth through selling oil in its occupied areas to enemies. The objects of sale included Syrian government which they swore to overturn, Iraqi Kurds and Turkey.
David Cohen, the Undersecretary of Department of The Treasury is the official who is in charge of striking finance of ISIS. On Wednesday, in his speech which was prepared for Carnegie Endowment for International Peace, he claimed, “ISIS is accumulating wealth at an unprecedented speed.”
Cohen expressed that what was different from al-Qaeda was that only a small part of funds of ISIS came from financially strong donators. ISIS earns funds mainly depending on oil trading in black market and ransoms through blackmail. Estimations on daily sales volume of ISIS are infinitely varied. But, it is generally considered that ISIS can earn at least 1 million dollars per day. Some organizations estimate that ISIS can receive as much as 3 million dollars per day.
Cohen also claimed that ISIS had already controlled all of oil refineries in its large amount of occupied areas. They sold oil to middlemen including some coming from Turkey. Those middlemen transferred oil and resold. Even Bashar al-Asad, the Syrian President had already planned to buy oil from ISIS. Moreover, some oil in occupied areas of ISIS were sold to Iraqi Kurds.
However, he did not point out which Kurds buy the oil. At present, alliance consisting of Iraqi Kurds, Iraqi government and Syrian rebel forces are playing a key role in strategy that the U.S. fights against ISIS.
However, neither Turkish government nor Kurdish government admitted to purchase oil from ISIS. Cohen also admitted that oil may enter into two areas through being smuggled.
Last week, Department of The Treasury called 20 countries and organizations together to discuss the methods to exhaust funds of ISIS. But Cohen warned that it would need more time.
David Cohen, the Undersecretary of Department of The Treasury is the official who is in charge of striking finance of ISIS. On Wednesday, in his speech which was prepared for Carnegie Endowment for International Peace, he claimed, “ISIS is accumulating wealth at an unprecedented speed.”
Cohen expressed that what was different from al-Qaeda was that only a small part of funds of ISIS came from financially strong donators. ISIS earns funds mainly depending on oil trading in black market and ransoms through blackmail. Estimations on daily sales volume of ISIS are infinitely varied. But, it is generally considered that ISIS can earn at least 1 million dollars per day. Some organizations estimate that ISIS can receive as much as 3 million dollars per day.
Cohen also claimed that ISIS had already controlled all of oil refineries in its large amount of occupied areas. They sold oil to middlemen including some coming from Turkey. Those middlemen transferred oil and resold. Even Bashar al-Asad, the Syrian President had already planned to buy oil from ISIS. Moreover, some oil in occupied areas of ISIS were sold to Iraqi Kurds.
However, he did not point out which Kurds buy the oil. At present, alliance consisting of Iraqi Kurds, Iraqi government and Syrian rebel forces are playing a key role in strategy that the U.S. fights against ISIS.
However, neither Turkish government nor Kurdish government admitted to purchase oil from ISIS. Cohen also admitted that oil may enter into two areas through being smuggled.
Last week, Department of The Treasury called 20 countries and organizations together to discuss the methods to exhaust funds of ISIS. But Cohen warned that it would need more time.
