By Niall McCarthy
After heavy fighting, Iraqi government forces liberated the eastern half of Mosul from ISIS militants last month.
This month, Iraqi forces launched their offensive to take the western half of the city, the group’s last major urban stronghold in the country. ISIS has now suffered a string of major defeats across Iraq, losing an estimated 62 percent of the territory they held in the country in August 2014.
According to an ISCR analysis, all those territorial losses have also seriously dented the terrorist group’s business model and ability to generate income. Back in 2014, at the height of it’s power in Iraq and Syria, ISIS made an estimated $1.89 billion, most of it generated through looting, confiscation and fines. Considering its recent setbacks on the ground, it comes as little surprise that its finances have fallen significantly. The $1 billion made through looting and confiscations in 2014 fell sharply to just $190 million in 2016. In total, the group’s income fell to a maximum of $870 million last year, a drop of over 50 percent on 2014.
This chart shows sources of income for the so-called Islamic State group (million U.S. dollars).Infographic: ISIS: Income Has More Than Halved Since 2014 | Statista
Niall McCarthy is a writer for the publication: ecointersect
Featured image source: christianpost