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Islamic State

Other News

World must ‘choke off’ Islamic State oil cash

The international community must take concerted action to “choke off” funding to Islamic State (IS), Britain has warned. Chancellor George Osborne and Foreign Secretary Philip Hammond said it was essential that jihadists - who have seized control of vast oilfields in Syria and Iraq - were isolated from the international financial system. Writing in The Daily Telegraph ahead of a meeting of United Nations Security Council finance ministers in New York to discuss action against IS, they said weaknesses in IS’ funding network must be exploited.

Oil & Gas

US official claims Syrian government is buying IS oil

A top US official has claimed the Syrian government has been buying oil from the terrorist group Islamic State (IS). Adam Szubin, currently the Treasury’s acting under secretary for Terrorism and Financial Intelligence, said although some crude was making its way over the border to Turkey a “far greater amount” was ending up in areas under Bashar al-Assad’s control.

Oil & Gas

Islamic State bombers hit Syrian city, oil tanks on fire

Islamic State suicide bombers blew up two trucks in the heart of the northeastern Syrian city of Hasaka and a fire erupted at petroleum storage tanks and a textile firm after shelling by the militants, a Syrian army source said on Monday. The army source was quoted by state television as saying the militants had targeted a major roundabout and near a mosque in the southeastern Ghwyran neighbourhood, a residential area that the militants entered since Thursday in a lighting assault to seize the government-held parts of the city.