US: Islamic State group earns $1M a month in black market oil sales

WASHINGTON: The US Treasury Department says Islamic State militants are earning about $1 million a month just from black market oil sales.
The official who leads the department’s effort to undermine the group’s financial strength says IS also has taken in at least $20 million in ransom payments this year from kidnappings.
David Cohen, the Treasury undersecretary for terrorism and financial intelligence, says the group takes in several million dollars a month from wealthy donors, and from extortion rackets and other criminal activities, such as robbing banks.
Cohen says that except for state-sponsored terrorist groups, the Islamic State group is probably the best-funded terrorist organization the Treasury Department has ever confronted.