• ISIS earns $1 million per day making them the richest terrorist group in history

• ISIS earns $1 million per day making them the richest terrorist group in history

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  October 7, 2014 2:44 PM MST

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  President Barack Obama vowed on Wednesday (September 10) to "ultimately destroy" Islamic State militants in a speech to Americans, laying out a strategy for expanding U.S. air strikes in Iraq and, for the first time, striking targets in Syria.

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  ISIS makes between $1 million and $2 million per day and the resources of the militant group exceed those of "any other terrorist group in history," according to an intelligence officer of the United States who spoke on condition of anonymity to discuss classified assessments. According to a report from CNN on Oct. 7, the Islamist extremist group ISIS is reaping in a tremendous amount of money while waging an all-out battle in its effort to seize and control new territories.
  Militants of ISIS, which in the past relied on wealthy Persian Gulf donors to get money, have become a self-supplied financial giant, earning more than $1 million a day from oil smuggling, human trafficking, theft and extortion. ISIS has taken extensive tracts of Syria and Iraq and controls up to 11 oil fields and these riches are one of the reasons why American authorities are so concerned by the group, although they admit they have no evidence that it is preparing attacks against the United States.
  The organization sells oil and other goods through smuggling networks used for generations under the noses of some of the same governments that they fight. Although Washington's intelligence agencies do not believe that these governments are complicit in smuggling, the Obama administration is pushing to do more to end this.
  The oil comes from wells and refineries that ISIS has taken control of in northern Iraq and northern Syria and until recently it was very easy to take contraband to areas such as southern Turkey. One reason is that the smuggled oil is cheap and is a precious commodity in most areas. Matthew Levitt, director of the Stein Program on Counterterrorism and Intelligence at the Washington Institute for Near East Policy in Washington, D.C., calls ISIS "the best-financed group we've ever seen."
  Regarding ISIS's $1 million per day earnings, Levitt said: "We shouldn't be surprised. Remember, the Islamic State called ISIS is what used to be called the Islamic State of Iraq, and al Qaeda in Iraq, the Tawhid Network, the Zarqawi Network; it's all the same. And they were always primarily financed through domestic criminal activity within the borders of Iraq."
  In addition, the group has secretly made millions of dollars by taking Iraq antiques and putting them up for sale in Turkey, said Moaz al-Khatib, a former president of the National Coalition for Syrian Revolutionary and Opposition Forces. ISIS also makes money through trafficking and selling women and children as sex slaves.
  

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• ISIS earns $1 million per day making them the richest terrorist group in history