ISIS revenue drops nearly a third after loss of territory shrinks tax base

AFP reports: Islamic State’s revenues have dropped about 30% since mid-2015, forcing the group to introduce a range of new taxes, a research group has said.

“In mid-2015, the Islamic State’s overall monthly revenue was around $80m,” said Ludovico Carlino, senior analyst at IHS, which issues regular reports on Isis-controlled territory.

“As of March 2016, the Islamic State’s monthly revenue dropped to $56m,” Carlino said.

An IHS report also said oil production in areas controlled by Isis jihadists was 21,000 barrels a day, down from 33,000 barrels a day.

This was due largely to airstrikes by the US-led coalition and Russia, although IHS warned the decline was only an “interruption of production” because jihadists were able to repair infrastructure quickly. [Continue reading…]

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