IS Has Up To $300Mln In Cash Reserves For Sustaining Operations - UN Anti-Terror Chief Vladimir Voronkov

The Islamic State terrorist group (IS, banned in Russia) despite territorial losses has up to $300 million in cash on hand to sustain operations, UN Counter-Terrorism Office (CTO) Under-Secretary-General Vladimir Voronkov told the Security Council on Monday

UNITED NATIONS (UrduPoint News / Sputnik - 11th February, 2019) The Islamic State terrorist group (IS, banned in Russia) despite territorial losses has up to $300 million in cash on hand to sustain operations, UN Counter-Terrorism Office (CTO) Under-Secretary-General Vladimir Voronkov told the Security Council on Monday.

"In terms of ISIL' [IS] financial strength, the report notes that despite some loss of revenue due to territorial setbacks, ISIL could sustain its operations through accessible reserves in cash or investment in businesses ranging between $50 million and $300 million American Dollars," Voronkov said.

Voronko, briefing the Security Council on a new CTO report, also said IS remains a threat to international security.

"Having a center of gravity in Iraq and the Syrian Arab Republic, where it is reported to control between 14,000 and 18,000 militants, including up to 3,000 foreign terrorists fighters, ISIS [IS] has continued to evolve into a covert network operating at a local level and organizing itself at a provincial level," Voronkov said.

Syria has been in a state of civil war since 2011 with government forces fighting against numerous opposition groups and terrorist organizations. In late 2017, the victory over the Islamic State terrorist group (IS, banned in Russia) was declared in Syria and Iraq. Certain territories in the two countries are still being cleared from militants.