Global Independent Analytics

ISIS revenue down 30 percent as its territory shrinks, report claims

"You can be fined for driving on the wrong side of the road and for not being able to answer questions correctly on the Koran"

Fox News reporting: An insider report has appeared, claiming that the terror group known as ISIS or Daesh in the West has seen its revenue fall by 30 percent from last year due to underperformance in battles. They have also lost control over as much as a third of the population from their previous numbers, following their retreat from key strongholds.

The consulting firm IHS reports that as of March 2016, ISIS' monthly revenue was $56 million, down from a high of $80 million in March 2015.

But there’s also another factor in play, according to the report. There has been a substantial drop in oil production on controlled territories. Right now there are 21,000 barrels of oil produced each day, which is a huge slide down from 33,000 barrels per day in previous months.

The partial reason for this, as suggested in the report, are the airstrikes, conducted by the U.S.-led coalition of countries and Russia. However, it also states that the militants were able to repair damaged facilities relatively quickly.

The report says that setbacks on the battlefield have cost ISIS some of its main source of income: a tax base that numbered nine million people at the height of the militants' territorial conquests.

"[ISIS] has lost about 22 percent of its territory in the past 15 months,” IHS senior analyst Columb Strack told The Telegraph. "Its population has declined from around nine million to around six million. There are fewer people and business activities to tax; the same applies to properties and land to confiscate."

To counter declining revenues, ISIS has introduced more creative penalties for minor offenses. 

"You can be fined for driving on the wrong side of the road and for not being able to answer questions correctly on the Koran," senior analyst Ludovico Carlino told The Telegraph.

The IHS report also claims that ISIS has begun charging "exit fees" for people who wish to leave cities under its control and even accepting cash in lieu of doling out corporal punishment.

By Stefan Paraber for GIA

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