“ISIL” to Suffer Financially, Must Keep Expanding to Survive

Local Editor

International investigators said that in order for the ISIS to remain financially viable it would have to further expand territory it controlled in Iraq and Syria and take over more resources.

The Paris-based Financial Action Task Force [FATF] stated in a report that the Takfiri group's need for large amounts of money to govern areas it had conquered meant it was uncertain how long it could finance its current level of activity.

"In order to maintain its financial management and expenditures in areas where it operates, "ISIL" must be able to seize additional territory in order to exploit resources," it said.

The task force, which is made up of government officials from around the world who are combating money laundering, noted that the group had generated large amounts of money by appropriating oil fields and from criminal activity such as theft and extortion.

"Cutting off these vast revenue streams is both a challenge and opportunity for the global community to defeat this terrorist organization," the report said.
Moreover, degrading the group's financial resources was one aspect to destroy "ISIL", ranging from military attacks to counter-propaganda.

The report declared air strikes against "ISIL's" oil facilities as well as falling oil prices and the group's own need for refined oil products had "significantly diminished" its revenues.

FATF mentioned there was a "need to better identify the origin, middlemen, buyers, carriers, traders and routes through which oil produced in "ISIL"-held territory is trafficked."

Source: News Agencies, Edited by website team