A U.S.-based analysis firm says the Islamic State (IS) militant group`s income has dropped by about one-third in the past 15 months, describing the decline as a threat to its long-term rule over its self-proclaimed caliphate, according to Radio Liberty.
In a report released on April 18, IHS says revenue for the group fell to $56 million in March from $80 million a month in mid-2015, RFE/RL reports.
It says daily oil production in IS-controlled areas went down to 21,000 barrels from 33,000 barrels over the same time frame as production facilities suffered damage from air strikes.
Meanwhile, IS militants have lost 22% of their territory in Syria and Iraq and now rule over 6 million instead of 9 million people – meaning the tax base for the group has become smaller.
In consequence, they have introduced new taxes on such activities as installing satellite dishes or exiting cities.
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