Iraq’s Prime Minister said ISIS is a threat for country’s economy

04/06/2015

Iraqi Prime Minister has remarked that Islamic State (IS) militants are a serious threat not just for security of the country, but also for the economy of the country. Adil Abdul Mahdi recently highlighted the significance of IS attempting to take control of oil fields to use as financial sources.
He also remarked that the Jihadists need oil more than heavy weapons. Abdul Mahdi explained that the insurgents have made gains at the Beiji refinery and are trying to take control of Alas and Ajil, the two oil-rich fields near Beiji.
Regarding the Iraqi government’s plans to retake the oil fields and refineries, the oil minister said that they are attempting to build cooperation with the Peshmerga and Iraqi security forces to drive the militants from those areas.
It is known that IS produces oil from the fields they have taken control of in northern Iraq and eastern Syria. The extracted oil is reportedly sold in black market in a much cheaper rate.

Last Update:: 04/06/2015

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