A spokesman for the US-led coalition, Col. Steve Warren announced Monday the destruction of 90 percent of the Daesh oil capacity in Iraq and Syria, Al-Sumaria reports. He also noted that terrorists have lost 40 percent of its territory due to coalition's airstrikes.
It is widely believed the Islamic States receives most of its funding through illegal oil sales and smuggling. Russia has said that much of the illegal oil is smuggled into Turkey and resold on markets.
Daesh, outlawed in Russia and many other countries, is a violent extremist group, that has seized large areas in Syria and Iraq and declared a caliphate on territories under its control.
A US-led international coalition of around 60 nations has been conducting airstrikes against Daesh targets in Iraq and Syria since August 2014.