Israel are the main buyer of oil from ISIS controlled territory, and have thus becomes its biggest funder.
According to reports by al-Araby al-Jadeed Kurdish and Turkish smugglers are transporting oil from ISIS controlled territory in Syria and Iraq and selling it to Israel. A staggering 40,000 barrels of oil are produced daily by ISIS which generates a $1-1.5 million daily profit for the organisation.
Penny For Your Thoughts reports:
The oil is extracted from Dir A-Zur in Syria and two fields in Iraq and transported to the Kurdish city of Zakhu in a triangle of land near the borders of Syria, Iraq and Turkey.
Israeli and Turkish mediators come to the city and when prices are agreed, the oil is smuggled to the Turkish city of Silop marked as originating from Kurdish regions of Iraq and sold for $15-18 per barrel (WTI and Brent Crude currently sell for $41 and $45 per barrel) to the Israeli mediator, a man in his 50s with dual Greek-Israeli citizenship known as Dr. Farid. He transports the oil via several Turkish ports and then onto other ports, with Israel among the main destinations.
In August, the “Financial Times” reported that Israel obtained 75% of its oil supplies from Iraqi Kurdistan. More than a third of such exports go through the port of Ceyhan, which the FT describe as a “potential gateway for ISIS-smuggled crude.”
“Israel has in one way or another become the main marketer of ISIS oil. Without them, most ISIS-produced oil would have remained going between Iraq, Syria and Turkey. Even the three companies would not receive the oil if they did not have a buyer in Israel,” an industry official told the newspaper “al-Araby al-Jadeed.”