Vladimir Putin's airstrikes leave ISIS in financial ruin'

ISIS is facing financial ruin after being battered by airstrikes targeting the terror group's economic infrastructure, according to a new report.

Think tank IHS revealed the Western effort targeting ISIS is paying off with the group’s oil resources "largely destroyed" - including its "refining capacity, and ability to transport oil via tanker convoy".

IHS said the weakened terror cult is "struggling to balance its budget" with "cuts to fighters' salaries, price hikes on electricity and other basic services, and the introduction of new agricultural taxes".

Putin's bombers have also smashed savage ISIS targets since waging war on the regime at the end of September.

It was revealed yesterday that Russia crushed more than 600 targets in just three days in the latest series of bombardments against the evil terror group.

But the study claimed the coalition effort to wipe ISIS off the grid needs to be ramped up, with the regime raking in a whopping £53 million a month.

The savage death cult - also known as Daesh - is pulling in the staggering profit from taxes, confiscated property, smuggling drugs, selling oil and even electricity.

The report highlights that ISIS has financial clout greater than any other terror organisation - relying far less on donations from sympathisers.

Senior analyst Ludovico Carlino explained the savage terror group's elaborate business model, claiming it is able to make profits from sectors it is not involved in.

He said: "One of the Islamic State's main sources of income comes from taxation on economic activity and basic services, including electricity, mobile phone networks, internet access, retail, industry and agriculture, within territory it controls.

"They charge a 20 percent tax on all services.
"Its business model, which is heavily focused on intermediaries and taking percentage cuts, also means that the Islamic State is able to make profits from areas and sectors where it is not directly involved."

The worrying report also revealed how civilians in war-ravaged Syria have become dependent on black markets and smuggling - which have both been exploited by the abhorrent terror regime.
It also added that ISIS earns its massive profit by kidnapping people for ransom and even staging bank robberies.

Daily Star