The U.S.-led air assault in Iraq and Syria on the extremist group the Islamic State of Iraq and Greater Syria(ISIS) is just one front in the battle being waged against ISIS. The U.S. Treasury recently confirmed plans to try to bankrupt the militant group by targeting its oil businesses and imposing sanctions on those financing them. But how easy will it be to financially ruin a group now considered by analysts to be the best-funded terrorist organization in recent history?
“Like all organizations, money matters to ISIS,” says Fawaz Gerges, the Emirates chair in Contemporary Middle Eastern Studies at the London School of Economics. “Napoleon once said ‘An army marches on its stomach’ and even ISIS needs to feed and arm its soldiers, to provide for their families. If you follow the trail of money and starve ISIS financially, you begin the process of degrading and ultimately paralyzing it.”
View original post 1,175 more words