W.H.: ISIS Made $20 Million Last Year, Most Through Ransom Payments

U.S. Strikes Cut Into ISIS Oil Revenues, Treasury Official Says (The New York Times)

The American military campaign against the Islamic State has begun to cut into the Sunni militant group’s substantial oil revenues, the top counterterrorism official at the Treasury Department said on Thursday, but starving its cash flow will be a slow process.

“We have no silver bullet, no secret weapon to empty ISIL’s coffers overnight,” David S. Cohen, the Treasury under secretary for terrorism and financial intelligence, said in a speech at the Carnegie Endowment for International Peace in Washington, using an alternative name for the Islamic State.

Aside from state-sponsored actors, Mr. Cohen said the group was “the best-funded terrorist organization we’ve confronted.”