Thanks for the question. I think that the appropriate way to do this is pretty much whats being done right now actually, and such using airstrikes to limit the freedom of movement and the ability to move oil and smuggle it as easily as isil was able to be for the airstrikes started. Meanwhile, buying time for an advice and assist effort and Capacity Building effort to try to stand up in some cases local Security Forces or the iraqi army to conduct effective operations is insulated to push isil back from the territory is controlling. I appreciate that, i dont mean to cut you off but from 20032011 we spent 24 billion, the United States taxpayer spent 24 billion training 938,000 iraqis how to fight. And to equip them, train them. And who we have 30,000 sunni that are over running the country. As isis gets stronger and stronger, we are back again with this training operation and i just have some misgivings about, you know, whats that saying that the definition of insanity is doing the same
Production you would be familiar with the processes and the targets and things like that . In terms of the military targets . Yeah, youre sitting there, youre fairly comprehensive in this report here, are you in that room is all im asking . We are linked up closely with the Defense Departments in terms of the overall level. But on a scale of one to ten how committed are you to stopping the oil revenues from coming in, the administration, one of ten . I would give that a ten, congressman . Okay, so why didnt you stop it this afternoon . You really want to do it, youre in the room. You can stop it today. You can move 30,000 barrels of oil basically is what the report is saying. That sells anywhere from 25 to 60 a barrel, resulting in 3 4 of a Million Barrels of oil. To move 350 barrels requires trucks. Now the report talks about choking off the funding for insurance. The insurance could cut the insurance off themselves, you dont have to truck one Insurance Company down. It is the trucks
I commend you for pushing it through the house i had help even from the other side. Exactly. The way that it will be used and be effective is that it allows the federal regulators to rely on state examinations for purposes of overseeing compliance with antiMoney Laundering regulations, that will expand our ability to get insight into the quality of the antiMoney Laundering efforts out in the across the country, particularly in the Money Services industry. And that will, i think, enhance the confidence that Financial Institutions have in taking on Money Service businesses as customers. So to get back to the derisk in question. What we are hoping to foster is an environment where institutions do in fact engage in a continue, really, to engage in a balance of risk, and the Better Foundation for that risk assessment, i think the better off we all are. Thank you. I want to say, i would like to work with you to help more Financial Institutions understand whats available under the act. Let me
It is often possible to tell where oil comes from although im also told there are some similarities among fields. I cant tell you with great certainty well be able to do that but i believe so. We all want to go after isis. The policy issue is do we go after isis in a way that causes harm to the civilians under its control . As i said in my Opening Statement we didnt hesitate to bomb occupied europe. If a businessperson of good character and reputation in mosul wants to buy something from europe using the International Banking system, a civilian item, do we try to stop that . Well, congressman, its we obviously would not try to stop a decent citizen in mosul well, we certainly did in world war ii, which we seem to have taken more seriously. You cant say im in occupied marseilles. Are you saying if i want to buy a replacement part for my factory in mosul, i can just buy it online . No, im not saying that what do we prevent the honest business person in occupied mosul from conducting civi
But they dont have assets here, or around the world. Theyre doing things domestically in iraq. It would not make a difference to add them to the list. What we want to do ultimately is make a difference. What we need to do in particular is not just focusing on the guy today who has the title of finance minister and doing things only within iraq, but the middle men who are facilitating oil payments and anything crossing the borders. Are there leverage points that treasury, or anywhere in the administration, that we could use to encourage whether its kuwait, qatar, or turkey, or other countries in the region, to follow through . I think there are. One of the concerns that i have is whether or not these vast sums of money that are being generated internally by isis are entering banks in qatar. And we should be scrutinizing, working very closely to ensure that those banks are applying the relevant antiMoney Laundering, terrorist financing regulations that they should. And if not, perhaps th