ISIS terrorist group is playing the stock market to raise cash

Russia says ISIL is playing stock markets and investing in businesses around the globe in order to raise cash after its main sources of income were neutralised.

Following “the destruction” of Islamic State of Iraq and the Levant’s lucrative smuggling of oil and gas, the “terrorists” have turned to new sources of financial and logistical support, Russia’s UN Ambassador Vassily Nebenzia told the Security Council on Thursday.

“The global terrorist tower of Babel has fallen to pieces. However, ISIL cells continue to speak in one tongue and they’re successfully coordinating among themselves,” Nebenzia said.

ISIL adherents are speculating on stock markets and investing funds “in legal sectors of the economies of a broad array of countries”, he said.

This includes tourism and the hospitality industry as well as agriculture, fish farming, pharmacology and construction companies, said Nebenzia.

The armed group “also continues to fight for control over narcotics flows, including from Afghanistan”, the Russian ambassador said, adding it “continues to receive revenue from foreign sponsors operating under cover of philanthropic funds, religious organisations and other non-government bodies”.

Source: Aljazeera