Economy Minister Pier Carlo Padoan
said Wednesday that oil is a "significant" source of funding for
the so-called Islamic State (ISIS) fundamentalist insurgency.
The minister said the oil market nets the terrorist group "an
estimated $100 million a year". The extremist organization also
finances itself by peddling "antiquities sacked from occupied
lands, which are being fenced on Western markets," Padoan told a
conference on money-laundering at Rome's private LUISS business
school. "The sale of antiquities is particularly significant,
because it requires the complicity of Western buyers".
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