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ISIL Benefits from Oil Smuggling

Smuggled oil has become an important sector in the Middle East region after the ISIS invasion of Mosul last June


In the security coordination meeting held in Ankara, economic activities in Iraq, Syria and Turkey were discussed, regarding the terrorism which affects the developments in the region. Smuggled oil sector has reportedly grown bigger after the ISIS invasion of Mosul.

ISIS, which holds the oil reserves in Iraq and Syria with about 350.000 barrels, is reportedly following the oil prices all around the world.

The smuggled oil is transferred to buyers after running it in mobile refines. Turkey has become one of its most important buyers recently. Daily income of ISIS reached up to 2 million dollars six months ago. The price of smuggled oil has increased in Turkey, as well.

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