To kill the ISIS monster you gotta do more than cut off its money
It’s now widely recognized that the so-called Islamic State is not only very brutal, it is very rich, with a larger and more sophisticated financial infrastructure than any terrorist organization before it. The self-proclaimed “caliphate” rakes in millions of dollars a month from a range of income streams, including money from donors, money from extortion […]It’s now widely recognized that the so-called Islamic State is not only very brutal, it is very rich, with a larger and more sophisticated financial infrastructure than any terrorist organization before it. The self-proclaimed “caliphate” rakes in millions of dollars a month from a range of income streams, including money from donors, money from extortion and kidnapping, and, most importantly, the smuggling of cut-price oil and gas. The daily revenues are estimated at more than $3 million, which makes it easy to buy a certain level of control in the territories where the group, widely known by the English acronym ISIS, holds sway.
As Quilliam’s recent report on “Islamic State: The Changing Face of Modern Jihadism” argues, because of its financial independence ISIS is able to function (almost) like a state—a totalitarian one— coercing political loyalty with the most basic of carrot-and-stick models. Its ability to provide services and subsidize everyday goods gives it a political foundation that many of its subjects see as preferable to the governments of Damascus or Baghdad. Without that financial clout, the ties ISIS has with the population it rules would be sorely tested and its authority could become more precarious.
