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Tuesday's move by the Treasury Department follows an earlier round of sanctions, introduced last month, aimed at crippling al-Shabab’s ability to raise money.
ISIS, like al-Shabaab, has no physical presence and military bases in southern Somalia with no single town under its control, and yet it stays to extort money from businesses using threats through phone calls.
Somalia has been battling against Al-Shabaab and ISIS with the help of US and African Union forces on the ground for more than 10 years.
Puntland which has lost key officials in the battle against the terrorists for years executed 21 alleged Al-Shabaab fighters in different places last month, the highest number killed by firing squad in a single day.
This came a day after, a business center in the market was blown up with a car bomb after its owner has refused to pay the tax to ISIS. The new threat has sent a wave of shock throughout the Bakaro market.
After hearing his case, the top court sentenced the ISIS members to 15 years in military prison, and he has been given 30 days to appeal against the verdict.
Taliyeyaal Ciidanka Booliska katirsana ayaa xabiga la dhigay, iyadoo looga shakisan yahay inay hoos kala shaqeeyaan Kooxda Al-Shabaab.