ISIS netted up to $1B in cash after taking over Mosul, US official says

ISIS netted between $500 million and $1 billion in cash when it took over Iraq’s second largest city in 2014, a top Obama administration official said Thursday.

Daniel Glaser, the U.S. Treasury’s assistant secretary for terror financing, told participants at the Aspen Security Forum that when ISIS swept through the city of Mosul in northern Iraq, it took the reserves of over 90 banks, estimated to be between $500 million and $1 billion.

The northern Iraqi city has been occupied by ISIS since June 2014 and is considered to be its main stronghold in the region.

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One Response

  1. With 30,000 or so ISIS ‘troops’ – how far does $1B really go? (1x 10^9)/ (3 x 10^4) = $33,333. Not that much really. And seeing as they don’t really produce anything – other than some oil they smuggle out – they just don’t have the means to survive for very long – withut trying to plunder more resources. Difficult as the are now more or less contained in a specific area. And the oilthey smuggle across into Turkey will be stopping now that Turkey seems to have decided that IS are nt actually useful for them any more.

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