Islamic State still controls major cities and towns in Syria and Iraq. Photo: AP

Islamic State fighters forced to accept pay cuts as air strikes damage oil production and leave dent in revenue

Jihadists raided banks and businesses when they swept into Iraq in 2014, initially seizing at least US$500 million, and have raised millions more from smuggling oil, antiquities and other illicit schemes.

Topic |   Islamic militancy

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Islamic State still controls major cities and towns in Syria and Iraq. Photo: AP
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