According to a report in The Guardian, a smuggling organization in Iraq is estimated to make about $5 million a week from smuggling oil.
40 to 50 percent of the profits from gas smuggling is believed to end up in the hands of insurgents.
$4 billion worth of gas was smuggled out of Iraq in 2005.
In Iraq, the prices of small arms have increased since the U.S. invasion. According to a report by the New York Times, Kalashnikovs were priced between $75 to $150 in early 2003. By late 2006, the prices increased to the range of $210 to $650. In some areas of Iraq, the price has increased to $800, with compact Kalashnikovs favored by Osama bin Laden selling for as much as $2000.
According to charity Oxfam, bullets are being sold on the black market in Iraq at a cost of 15 cents to 45 cents per bullet. Worldwide, up to10 to 14 billion bullets are produced, an average of 33 million per day. The market in small arms ammunition is worth between $2 to $3 Billion per… Continue reading Cost to Buy AK-47 Bullets in Iraq
In 2007, a rocket propelled grenade launder was being sold on the black market in in Iraq for $100. Grenades for the launder were being sold to insurgents for $50 per grenade. The Russian model of the Ak-47 was being sold for close to $500 in 2007. Back in 2003, the gun was being sold… Continue reading Price of Rocket Propelled Launcher in Iraq
The Center for Defense Information (CDI) has reported on the thriving black market that has existed throughout the U.S. occupation. In a December 2006 report, the CDI stated that “weapons originally supplied by the U.S. and its allies to the Iraqi police have been showing up on the streets and on the black market, likely diverted by theft, loss, or by officers who kept their weapons after quitting the police force”.
An Iraqi Parliamentary Committee stated that the country faces $5 Billion in losses to oil smuggling.
In 2008 at least one-third of fuel from Iraq’s largest refinery is being diverted to the black market. The proceeds from the sale were being used to support in insurgency against American troops.