The Islamic State of Iraq and Greater Syria (ISIS) takes in about $80 million a month in revenue, according to a new report by IHS.
Unlike other terror groups, ISIS does not rely primarily on donations, but has created its own revenue sources—primarily through producing and smuggling oil and taxing the areas it controls, but also by selling drugs and antiquities and kidnapping for ransom, the Financial Times reports.
According to IHS, strikes by the U.S.-led coalition have been somewhat successful in hindering ISIS’s ability to make money on oil production.
Multiplied out by 12 months, that revenue is roughly equal to the 2014 GDP of Samoa, population: 198,000.
[FT]
More Must-Read Stories From TIME
- Employers Take Note: Young Workers Are Seeking Jobs with a Higher Purpose
- Signs Are Pointing to a Slowdown in the Housing Market—At Last
- Welcome to the Era of Unapologetic Bad Taste
- As the Virus Evolves, COVID-19 Reinfections Are Going to Keep Happening
- A New York Mosque Becomes a Refuge for Afghan Teens Who Fled Without Their Families
- High Gas Prices are Oil Companies' Fault says Ro Khanna, and Democrats Should Go After Them
- Two Million Cases: COVID-19 May Finally Force North Korea to Open Up
Read More From TIME
