Increasingly Broke IS Resorts to Fire Sale
With so-called Islamic State (IS) revenue streams drying up as it continues to lose territory in Syria and Iraq, IS is resorting to a fire sale by liquidating whatever marketable products it can, Iraqi prosecutors say. The Iraqi Higher Judicial Council said in a recent report that prosecutors’ interrogations with a group of captured IS […]Rikar Hussein writes for Voice of America:
With so-called Islamic State (IS) revenue streams drying up as it continues to lose territory in Syria and Iraq, IS is resorting to a fire sale by liquidating whatever marketable products it can, Iraqi prosecutors say.
The Iraqi Higher Judicial Council said in a recent report that prosecutors’ interrogations with a group of captured IS members tell of how IS is dumping goods on Iraqi markets in hopes of making quick profits needed to continue military operations.
“Confessions of this group clarified that the organization has recently resorted to an indirect mechanism of funding by sending goods to its suppliers who will later sell them to retailers,” the report said.
