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Written question asked by Gareth Johnson (Conservative) on Tuesday, 18 November 2014, in the House of Commons. It was due for an answer on Thursday, 20 November 2014. It was answered by Tobias Ellwood (Conservative) on Tuesday, 25 November 2014 on behalf of the Foreign and Commonwealth Office.

Islamic State

Question

To ask the Secretary of State for Foreign and Commonwealth Affairs, what estimate he has made of the income ISIL receives from oil fields; what steps he is taking to restrict this income; and whether this oil can find its way into the UK market.

Answer

We, and our international partners, estimate that a significant portion of ISIL’s revenue comes from its sale of oil. Extortion is its other main source of funds. It is not possible accurately to estimate these revenues.

We assess that current oil production in ISIL held areas is a fraction of pre-conflict levels. Oil is used by ISIL, sold in areas under its control, and smuggled across borders. We do not have any evidence to suggest that oil from ISIL-controlled areas is reaching the UK.

Degrading ISIL’s finances is a key part of our strategy for defeating ISIL, and tackling the threat it poses to the UK and UK interests abroad.

We are working closely with coalition partners both to better understand the nature of ISIL’s finances and to disrupt them. It is vital that the international community works together to enforce UN Security Council Resolution 2170, which requires members to cut off ISIL’s sources of finance.

Secondary information

Type
Written question
Reference
215102
Session
2014-15
Subjects
Income Oil Islamic State
Contains statistics
Yes
Link
View this Written question on www.parliament.uk