CBI Stops Dollar Sales, Foreign Currency Transfers to Kurdistan

By John Lee.

The Central Bank of Iraq (CBI) announced on Tuesday that it will block foreign currency transfers to Iraqi Kurdistan, and stop selling dollars to four major Kurdish banks.

The decision part of an effort to put pressure on Iraqi Kurdistan after its population voted overwhelmingly in favour of breaking away from Iraq in a referendum last week.

Baghdad has also closed Kurdish airspace to international flights.

(Sources: Financial Times, Reuters)

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