Military air strikes on terrorists groups in Syria Wednesday targeted 12 oil refineries used by Islamic State terrorists to generate as much as $2 million per day.

The Kurdish Ministry of Natural Resources said in a statement issued through its official Twitter account action must be taken to contain oil's role in IS financing through action by the Kurdish Peshmerga and other forces.

#KRG tasks Peshmerga, Interior Ministries, MNR & Asyaish to closely monitor & take tough measures against oil smugglers from ISIS areas— KRG-MNR (@MNRKurdistan) September 25, 2014

The Iraqi Ministry of Oil issued an appeal to U.N. member states to take action to prevent the export of smuggled crude oil. The ministry said it was troubled by reports that crude oil taken from territory controlled by the Sunni-led terrorist group was reaching the international market.

President Barack Obama said air strikes against regional terrorist targets were the foundation of a strategy that will "degrade, and ultimately destroy" the terrorist group.

Kevin Martin, executive director for U.S. advocacy group Peace Action, said cutting oil ties to Islamic State terrorists was an effective non-military means to control the threat.