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US: IS earns $1M per day in black market oil sales

FILE - In this Dec. 1, 2011 file photo, Treasury Undersecretary for Terrorism and Financial Intelligence David S. Cohen testifies on Capitol Hill in Washington. The Treasury Department says Islamic State militants are amassing wealth at an unprecedented pace, earning about $1 million a day from black market oil sales alone. Cohen said Thursday that the militant group also has taken in at least $20 million in ransom payments this year from kidnappings. (AP Photo/Susan Walsh, File)WASHINGTON (AP) — Islamic State militants are amassing wealth at an unprecedented pace, earning about $1 million a day from black market oil sales alone, a Treasury Department official said Thursday.

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