ISIS is reportedly running out of cash
(Image credit: Matt Cardy/Getty Images)

Islamic State is advancing toward Damascus, the Syrian capital, and seizing Assyrian Christian towns near the Turkish border, abducting at least 220 Christians and destroying irreplaceable works of art. But it is also facing setbacks, including an offensive by Kurdish fighters, new U.S.-led airstrikes, and — according to the Syrian Observatory for Human Rights — a cash flow problem.

"They need money," Observatory head Rami Abdulrahman tells Reuters. "Ever since the airstrikes hit their oil facilities and the Turkish border has been harder to cross, they have increased taxes and looked for ways to make money." Things have gotten so tight, he added, that ISIS has started selling scrap metal from bombed factories and other industrial wreckage in eastern Syria.

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Peter Weber, The Week US

Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.