US & Canada

US-led coalition strike 'destroys IS bank in Iraq'

Nuclear-powered aircraft carrier USS Harry S. Truman during a visit by Ukraine's prime minister at at an undisclosed position in the Mediterranean Sea, south of Sicily Image copyright AP
Image caption The US-led coalition is increasing strikes against the so-called Islamic State's money-making facilities

A US-led coalition air strike has destroyed a bank used by the Islamic State group in the Iraqi city of Mosul.

A US official told the BBC two 900kg bombs had hit the building on Monday.

He estimated that millions of dollars earned by IS through oil sales, looting and extortion had been destroyed.

Video posted online by IS showed damage to a building. The coalition has increased strikes against facilities that fund IS activities including oil fields it controls.

The coalition has hit "one or two" buildings that store IS money in the past, the US official told the BBC, but Monday's strike is likely to be the biggest to date.

CNN reported that the strike was carried out in a civilian area and that US commanders were prepared to consider up to 50 civilian casualties "due to the importance of the target".

Strikes on Monday also destroyed two IS command and control nodes, a tactical vehicle and 20 IS fighting positions, the Combined Joint Task Force said.

IS generates around $80m a month, mainly from oil revenues, according to findings focusing on late 2015 from UK defence consultancy IHS.

In October 2015, the US-led coalition launched Tidal Wave 2, a military campaign aimed at intensifying air strikes on IS oil fields, refineries and tankers.

More on this story