The Islamic State terror group made nearly one billion dollars in 2015 according to the US treasury. Most of the income came from oil sales and extortion.

Deccan Chronicle reported:

The ISIS terror group made nearly $1 billion in total revenue last year, half of which came from the sale of oil, and earned as much $350 million per year by extorting funds from the local population, a top US Treasury Department official has said.

The source of ISIS’s income include oil and gas sales, extortion and taxation, external donations, kidnapping-for-ransom, and previously, bank looting, Daniel Glaser, the Treasury’s assistant secretary for terrorist financing said.

“We estimate that in 2015, ISIL made approximately USD 1 billion dollars in total revenue, USD 500 million of which came from the sale of oil, primarily through populations under its control,” Glaser said, using the US’s preferred acronym for ISIS.

“We also estimate that ISIL may have earned as much $350 million per year, by extorting funds from the local population and in connection with the financial and commercial activity taking place in the territory it controls,” he said yesterday in written testimony for a House of Representatives committee hearing on security threats.