US airstrikes destroy over $500m IS cash reserves

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U.S. airstrikes against the Islamic State in Iraq and Syria have reportedly destroyed more than $500 million cash reserves and 20 kilograms of gold . But US officials claim the amount is much more

U.S. airstrikes against the Islamic State in Iraq and Syria have reportedly destroyed more than $500 million cash reserves and 20 kilograms of gold stored by the terror group, a U.S. media outlet reported on Friday.

The estimate comes amid reports that the terror group is facing a cash shortage in its so-called caliphate, slashing the perks and salaries of its fighters across the region.

Recent reports have stated that the extremist group has started accepting only dollars for “tax” payments, water and electric bills.

But the $500m figure is probably a low estimate, a U.S. official was quoted as saying. The official said the figure is in “the high hundreds of millions of dollars.”

An additional 20 kilograms of gold is also believed to have been destroyed by the airstrikes, the report said.

As part of the effort to weaken the Islamic State, the U.S. military has struck at the terror group’s finances, particularly its lucrative oil smuggling enterprise in Syria that provides revenue for its operations.

The U.S. has also been targeting IS’ “cash distribution centres” in Syria where it stored hard cash used for its operations.

Ten strikes have been conducted so far with the most high profile being two airstrikes in Mosul, in northern Iraq, targeting facilities that American officials characterised as IS banks.

As proof of their successful targeting, the US-led coalition released a video of one of the Mosul airstrikes that showed what appeared to be large amounts of bills fluttering in the air after the airstrike.

American officials believe the strikes have had an impact on IS operations often citing anecdotal reports that IS fighters are now being paid half what they had been receiving prior to the airstrikes.

“It’s a significant amount of cash that we believe was in those various collection points before we struck them,” Colonel Steve Warren, the U.S. military spokesman in Baghdad, told reporters this week at a Pentagon briefing.

According to Warren, the U.S. now estimates that “hundreds of millions of dollars” in cash has been destroyed by airstrikes targeting IS financial centres.

The official also said five airstrikes near Mosul this weekend targeted two IS financial distribution centres and two IS financial storage centres.

 

The Hindu

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13 responses to “US airstrikes destroy over $500m IS cash reserves”

  1. Hope Daesh has unemployment insurance.

    1. 5thDrawer Avatar

      For that, one needs to live long enough to work a certain length of time before eligibility…

      1. Good point.

        1. 5thDrawer Avatar

          Also, of course, ALL employers pay into it for their workers. Daesh just kills off workers.
          Can’t make a fund with the results. ;-))

      2. Hind Abyad Avatar

        But you know they don’t have unemployment insurance.. blah blah again

  2. man-o-war Avatar

    Hit them where it hurts the most.

  3. Sex & Chocolate Avatar
    Sex & Chocolate

    daddy of A COW going from califat to cali$kinny, keep this up and the jihadi cadets may go on strike holding a sign saying
    ” NO DOE NO SHOW”

  4. Michaelinlondon1234 Avatar
    Michaelinlondon1234

    The USA Government slaughters people on 4 continents. Not a lot we can do about their addiction to killing.

    1. 5thDrawer Avatar

      Isissies want USA$$$ just like everyone else …. one assumes they can ‘pan’ for the lost gold which can’t be destroyed … hehe

      1. Michaelinlondon1234 Avatar
        Michaelinlondon1234

        LOL. In other news the UK made a law last year which says that all new migrants to the UK from 2016 are going to be limited to one child per family. If they go over it is instant deportation back to country of birth.

    2. MekensehParty Avatar
      MekensehParty

      And yet the world is still full of morons like you

      1. Hind Abyad Avatar

        Ad hominem is your forte

  5. MekensehParty Avatar
    MekensehParty

    Mazzeh/Moscow/Tehran: it’s not ze amricans who destroyed all this money, it’s the Russians bombing of the other rebels…

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