Islamic State militants now world's richest

Oil sales from captured refineries are allowing IS militants to produce some 50,000 barrels a day from fields in Syria and IraqThe Islamic State has become the world’s wealthiest terror group, earning tens of millions of dollars a month from illegal oil sales and ransoms, officials said Thursday. This will be a sustained fight, and we are in the early stages,” said undersecretary for terrorism and financial intelligence David Cohen. Cohen is among a team of Obama administration officials leading the fight against the Islamic State (IS) group, also known as ISIL, which has seized a large swath of territory in Iraq and Syria. The group is now “considered the world’s wealthiest and most financially sophisticated terrorist organization,” said Marwan Muasher, vice president at the Carnegie Endowment for International Peace.

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