• 2 minutes California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 6 minutes China and India are both needing more coal and prices are now extremely high. They need maximum fossil fuel.
  • 11 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days The Climate Scare Stories Began With Far Left Ideology Per GreenPeace Co-Founder
  • 13 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 6 hours NordStream2
  • 15 hours Biden Sets Target Of 50% EV Share In U.S. Car Sales In 2030
  • 15 hours US intel warns China could dominate advanced technologies By NOMAAN MERCHANT October 22, 2021
  • 2 days Putin and Xi have decided not to attend the Climate Summit in Glasgow
  • 2 days "The Hidden Story About California's Container Ship Backlog" via Corbett Report
  • 2 days Storage of gas cylinders
Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Premium Content

Tax Income Earned ISIS Much More Than Oil Smuggling

Contrary to what has been assumed so far, black market oil sales were not the only and not even the largest revenue stream for ISIS, an investigation of The New York Times has revealed.

Islamic State militants have been almost entirely expelled from Iraq and Syria, but for nearly three years they had held vast territories in the Middle East because they ran those areas with two complementary tools—brutality and bureaucracy—according to the team of NYT journalists and experts who have analyzed more than 15,000 pages of internal ISIS documents found in Iraq after the terrorists were driven out.

According to those documents, the Islamic State was able to hold onto vast swaths of Iraq and Syria between 2014 and 2017 because it taxed almost every business and production under its rule, and was not trying to replace government agencies and employees, but would rather have them continue to work.

ISIS used every single service, business, and agricultural production to squeeze revenues out of it, the internal documents analyzed by the NYT show. This could partly explain why the militants were able to keep hold of territories for years—their revenue stream was highly diversified. Monthly budgets and ledgers found in Iraq after the militants were pushed out show that ISIS monetized every inch of the territory they had under control and taxed literally everything—every bushel of wheat and every fruit sold on markets they controlled. Related: Is The Iran Nuclear Deal Coming To An End?

What’s more surprising is that ISIS earned much more from tax revenues than from oil smuggling, according to the NYT journalists and the experts they asked to analyze the terrorists’ internal documents.

“It was daily commerce and agriculture — not petroleum — that powered the economy of the caliphate,” NYT’s Rukmini Callimachi writes.

Documents recovered in Syria showed that the ratio of income earned from taxes compared to proceeds from oil sales was 6:1, according to experts asked by the NYT for analysis.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News