The end of ISIS? Terrorists struggle to raise cash as West bombs its oil wells

RAF bombers have taken part in coalition raids on ISIS targets in Iraq since December in Syria, undermining the regime's ability to raise revenue from oil.

It also targeted its bulk cash storage facilities.

But the UK has been slammed for not doing enough to stop ISIS' funding its reign of terror.

The House of Commons ForeignAffairs Sub-Committee is urging Britain to step up to its "potential".

Chairman John Baron said: "ISIS' finances have been damaged by the coalition's efforts.

"But more needs to be done.

"The UK contribution seems underpowered compared to our potential."

The committee argued Britain is in a position of power to help Iraq develop methods to stop ISIS' finances.

Mr Baron added: "ISIS thrives in states debilitated by war.

"The Iraqi Government must demonstrate that this terrorist organisation does not and cannot generate income from inside Iraq's financial systems that must be transparent to all."

"For its contribution to match its potential, the UK must do more.

"And allies abroad should have access to this expertise," said the committee.

"Much depends on blocking access to local and international money-making activities.

"The UK Government needs to speed up the recruitment, and ensure the retention, of specialists who understand local custom and practice.

"As oil and tax revenues decline, ISIS is likely to seek new sources of funding.

"The UK should take a leading role in international efforts to identify and target new funding streams for Isil with a stronger role in the Counter-Isil Finance Group currently chaired by the US, Italy and Saudi Arabia."

A report found the way to completely stop ISIS from exploiting populations under its control is to recapture territory possessed by the terrorists.

This comes after ISIS lost a whopping quarter of its territory, sparking fears of more attacks on Europe.