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UN Chief: Islamic State Has As Much As $300 Million To Fight

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Yahoo News

UN Chief: Islamic State Has As Much As $300 Million To Fight

by EDITH M. LEDERER - Associated Press

UNITED NATIONS (AP) — The Islamic State extremist group has been left with as much as $300 million following the loss of its so-called "caliphate" in Iraq and Syria, "with none of the financial demands of controlling territory and population," Secretary-General António Guterres said in a report released Monday.

The report to the Security Council on the threat posed by IS warns that the lull in attacks directed by the militant group "may be temporary."

Last week, U.N. experts said in another report to the council that IS leaders are aiming to consolidate and create conditions for an "eventual resurgence in its Iraqi and Syrian heartlands." It said the current lull in attacks "may not last long, possibly not even until the end of 2019."

Guterres said in the new report that while the loss of territory ended the Islamic State group's ability to generate revenue from oil fields and local people, IS is believed to be capable of directing funds to support "terrorist acts" within Iraq and Syria and abroad. It said informal money transfer businesses known as "hawaladars" are the most common method.

He said looted antiquities from Iraq may be another source of revenue for IS, also known as ISIL, and returnees from the conflict said there was a special unit responsible for selling such objects.

Read more: https://news.yahoo.com/un-chief-islamic-state-much-003201998.html