The Islamic State of Iraq and Greater Syria (ISIS) has made more than $500 million trading oil, according to a U.S. Treasury official.
The militants have sold much of the oil to Syrian President Bashar Assad’s government and some to Turkey, Reuters reports.
“The two are trying to slaughter each other and they are still engaged in millions and millions of dollars of trade,” Treasury Department official Adam Szubin said of the Syrian government and ISIS.
Szubin did not give a timeframe for the $500 million figure, but he said ISIS is making as much as $40 million per month selling oil.
More Must-Reads from TIME
- Cybersecurity Experts Are Sounding the Alarm on DOGE
- Meet the 2025 Women of the Year
- The Harsh Truth About Disability Inclusion
- Why Do More Young Adults Have Cancer?
- Colman Domingo Leads With Radical Love
- How to Get Better at Doing Things Alone
- Michelle Zauner Stares Down the Darkness
Write to Tessa Berenson Rogers at tessa.Rogers@time.com