U.S.-led coalition blows up $500 million in Islamic State cash and cuts its oil revenues

The U.S.-led coalition air campaign blew up about $500 million of the Islamic State’s cash and cut its oil revenues by about 50%, according to a senior US defense official.

An ISIS source who asked not to be named says The Islamic State has been forced to ration fuel in some areas and cut its fighters and government officials pay in regions it controls by half.

U.S. officials have said the air campaign combined with local ground forces in Iraq and Syria have dealt the Islamic State setbacks in recent months, saying the terror group has lost 40% of the territory it once controlled in Iraq. “We’ve got the momentum,” Defense Secretary Ashton Carter said.

The official added that the Islamic State is struggling to replace its fighters who are now being killed at a rate of 1,500 to 2,000 a month.

Source: USA Today