Comment on US: IS earns $1M a month in black market oil sales

US: IS earns $1M a month in black market oil sales

David Cohen, who leads the department's effort to undermine the Islamic State group's financial strength, said the extremists also get several million dollars a month from wealthy donors, and from extortion rackets and other criminal activities, such as robbing banks. "With the important exception of some state-sponsored terrorist organizations, IS is probably the best-funded terrorist organization we have confronted," Cohen, undersecretary for terrorism and financial intelligence, said in prepared remarks for a speech at the Carnegie Endowment for International Peace. Unlike the core al-Qaida terrorist network, IS gets only a relatively small share of funding from deep-pocket donors and therefore does not depend primarily on moving money across international borders.

 

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