U.S. says Islamic State has made $1.5 billion from bank looting, oil sales
"ISIL has made more than $500 million from black market oil sales," Szubin, acting Under Secretary for Terrorism and Financial Intelligence with the U.S. Treasury, said in remarks prepared for delivery.
"It has looted between $500 million and $1 billion from bank vaults captured in Iraq and Syria,? Szubin said. "And it has extorted many millions more from the populations under its control, often through brutal means."
Szubin spoke at Chatham House in London.
(Reporting by Jonathan Saul and Guy Faulconbridge)