Who is buying ISIL’s illicit oil?

The extremist group is funding its operations with the sale of oil. It is time to find the buyers

The recent spat between Russia and Turkey – spurred by the downing of a Russian fighter jets that had strayed into Turkish airspace while on a mission in Syria – has shed important light on ISIL’s oil trade. Mikhail Klimentyev / AP PhotoShow less

As ISIL continues to extend its reach in Syria and Iraq, the militant group has come to depend on funding from a variety of illicit channels. Pawning off priceless antiquities has garnered the terorists a great deal of international attention and cash. Robbing banks, as ISIL did in Mosul, also grabbed headlines. But it is the sale of oil that has proven to be the group’s most stable source of income.

How ISIL moves about its stolen oil isn’t clear, but there are suspicions that a substantial portion of the commodity flows through Turkey – the country, after all, is ideally positioned as a transit point between energy producing regions in the Middle East and Europe. The Turkish government, needless to say, has consistently denied that it is involved in any way. But now, the spat between Russia and Turkey – spurred by the downing of a Russian fighter jet that had strayed into Turkish airspace while on a mission in Syria – has brought the matter of Turkey and ISIL oil up once again.

Russian president Vladimir Putin has accused Ankara of downing the Russian jet in an attempt to protect its oil trade with ISIL. However, Mr Putin has provided scant evidence to support his claim. Nor is it immediately clear how the two are connected.

Amid all the accusations, it is perhaps more important to bear in mind the larger question: Who is actually buying the ISIL oil? The commodity is immensely important to the group because of its value and because there is a steady source of it – unlike the finite looting opportunities afforded by contraband antiquities.

And if it is important to ISIL, it is important for those fighting ISIL. Cutting off the group’s oil funding is an effective way of clipping the militants’ reach. The best way to achieve this is by going after the oil buyers themselves. At a minimum, we need a better picture of the buyers’ identity. In recent days, there have been reports saying Israel has been buying this oil. If so, this requires serious attention. And who else might there be? Depriving the extremists of funding will deprive them of the oxygen to fight. So who is buying ISIL oil?