Question to the Foreign, Commonwealth & Development Office:

To ask the Secretary of State for Foreign and Commonwealth Affairs, what estimate he has made of the income ISIL receives from oil fields; what steps he is taking to restrict this income; and whether this oil can find its way into the UK market.

We, and our international partners, estimate that a significant portion of ISIL’s revenue comes from its sale of oil. Extortion is its other main source of funds. It is not possible accurately to estimate these revenues.

We assess that current oil production in ISIL held areas is a fraction of pre-conflict levels. Oil is used by ISIL, sold in areas under its control, and smuggled across borders. We do not have any evidence to suggest that oil from ISIL-controlled areas is reaching the UK.

Degrading ISIL’s finances is a key part of our strategy for defeating ISIL, and tackling the threat it poses to the UK and UK interests abroad.

We are working closely with coalition partners both to better understand the nature of ISIL’s finances and to disrupt them. It is vital that the international community works together to enforce UN Security Council Resolution 2170, which requires members to cut off ISIL’s sources of finance.