ISIS's oil revenues declined from a peak of $40 million per month in 2015 to $4 million per month as of early October 2017. Despite the massive reduction, it's still a substantial amount of money for a group whose expenditures decrease with the size of the population and territory it controls and decreased recruitment.
Oct 27, 2017 The Cipher Brief
Significant gains have been made in attacking the Islamic State's cash and diminishing its ability to finance high-frequency attacks in Iraq and Syria. But the group may retain enough money to support sporadic attacks in the Middle East, North Africa, and Europe.
May 15, 2017 Lawfare
As the U.S. Treasury Department and its partners have denied terrorists access to the international financial system, new digital currencies could become an attractive alternative. They could be used for money laundering or to pay the personnel and vendors that keep the terrorist machine running.
Apr 21, 2017 Foreign Affairs
Only once ISIS's underground network is defeated will there be a real chance for enduring security and stability in Mosul.
Oct 18, 2016 War on the Rocks
Islamic State training camps are the breeding grounds of tomorrow's Brussels or Paris attacks, and their consistent penchant for training foreigners suggests that military and security officials need to get serious about how to deal with returnees from Iraq and Syria.
May 31, 2016 The National Interest
ISIS now faces considerable money problems. But despite the success of the coalition's counter-terrorist finance measures, it's too early to dismiss ISIS financially.
Mar 5, 2016 USA Today
The threat ISIS poses today is graver than ever for two reasons: its war chest and its ability to attract foreign recruits are both at their peak. Redoubling international efforts to cut off ISIS from these two pillars of its war machine is necessary to sap the group's strength.
Dec 4, 2015 The National Interest
Arming Iraq's Sunni militias to fight the Islamic State may seem like a quick fix, but newly declassified documents suggest it might only add fuel to the fire.
Jun 23, 2015 Foreign Policy
Despite the Islamic State's notoriety, a wide range of theories are still circulating about who really runs the group.
May 22, 2015 U.S. News & World Report
The Islamic State is the world's richest terrorist group, with estimated assets of $1 billion to $2 billion. Airstrikes may disrupt the flow of oil and profits, but they won't lead to the group's financial ruin anytime soon. The Islamic State will bring in an estimated $100 million to $200 million this year.
Oct 6, 2014 Newsday
President Obama's decision last week to conduct airstrikes against ISIS and send humanitarian aid will help buy time for both Iraqi and Kurdish forces to regroup. But Baghdad needs a strategy that aligns the political and economic interests of all Iraqis to hit ISIS where it hurts: its war chest.
Aug 13, 2014 The New York Times
On the surface, President Obama faces a classic foreign policy dilemma: The Iraqis are asking for U.S. military assistance to halt ISIS's dangerous offensive, but Obama has long promised the American people that he would withdraw the U.S. military from involvement in Iraq.
Jun 17, 2014 U.S. News & World Report
A constrictive rule book against direct-action counterterrorism techniques could be in tension with operational realities. But it would go some way toward establishing the legal and ethical framework under which such difficult decisions are made, writes Patrick Johnston.
Dec 5, 2012 The Orange County Register
When terrorists are afraid to poke their heads above ground, it becomes exceedingly difficult for them to communicate, coordinate, and conduct attacks—especially sophisticated ones like 9/11, writes Patrick B. Johnston.
Sep 28, 2012 Council on Foreign Relations
Recently declassified correspondence seized in the bin Laden raid shows that the relentless pressure from the drone campaign on al-Qaida in Pakistan led bin Laden to advise al-Qaida operatives to leave Pakistan's Tribal Areas as no longer safe, writes Patrick B. Johnston.
Aug 22, 2012 The Providence Journal