The Daesh jihadist group’s income fell by nearly a third since mid-2015 as the group has been losing its territory and suffering damages to its infrastructure amid US-led coalition airstrikes and a Russian aerial campaign against Daesh in Syria, a report revealed.
MOSCOW (Sputnik) — According to the report by the IHS, the analytical firm which issues regular reports on Daesh-controlled territories, half of the militants’ revenues come from taxation and confiscation of businesses and property, while 43 percent of the revenues are contributed to oil production and smuggling. The group lost 22 percent of its territories in the past 15 months, according to the report.
“In mid-2015, the Islamic State’s overall monthly revenue was around $80m. As of March 2016, the ISIS’s monthly revenue dropped to $56m,” senior analyst at the IHS Ludovico Carlino said.
Daesh oil production has declined from 33,000 to 21,000 barrels per day in the same period, the report said.
According to the report, the damage from the airstrikes on Daesh targets has forced the group to introduce a range of new taxes to compensate for the financial losses. Fines are reportedly being imposed on Daesh-controlled territories for driving on the wrong side of the road and not answering questions about the Koran correctly.
The US-led coalition of over 60 nations has been conducting airstrikes in Syria and Iraq against the jihadists since summer 2014.
Russia had been conducting an aerial campaign in Syria for six months since September 2015 at the request of Damascus.