US Undersecretary of the Treasury for Counter-terrorism Daniel Glaser said that the so-called ’Islamic State of Iraq and the Levant’ (ISIL) takfiri group receives a monthly amount of $40 billion from oil-related sales.

US Undersecretary of the Treasury for  Counter-terrorism Daniel Glaser said that the so-called 'Islamic State of Iraq and the Levant' (ISIL) takfiri group receives a monthly amount of $40 billion from oil-related sales after extraction from areas under its control.

During his speech in the security forum in Colorado state, Glaser made it clear that a real "treasure" of special information about fundraising of ISIL were obtained following the murder of ISIL leader responsible for oil and gas trade in north Syria last May, Abu Sayyaf.

Noting that ISIL militants receive a monthly salary of $1000, the American official said that the terrorist group had seized a cash flow between $500 million to a billion dollars, following the seizure of Mosul province in Iraq.

Previous statements by US officials revealed that following ISIL control over Mosul, the group seized bank assets estimated by $430 million.