Iraqi Kurdish Flight Ban Starts Today

A ban on international flights into Iraq’s Kurdish region was being imposed on Friday after the Baghdad government retaliated against a vote for independence that has drawn opposition from foreign powers.

Iraq’s Kurds overwhelmingly backed independence in a referendum on Monday, defying neighboring countries which fear the vote could lead to renewed conflict in the region.


West Texas Intermediate graph

Almost all foreign airlines suspended flights to Erbil and Sulaimaniya, obeying a notice from the government in Baghdad, which controls Iraqi air space. The ban was set to come into force at 6.00 p.m. on Friday.

Domestic flights are still allowed, so travelers are expected to travel to Kurdistan mostly via Baghdad’s airport, which will come under strain from the extra traffic.

Iraq’s top Shi’ite cleric intervened to oppose the secession of the Kurdistan region, adding pressure on the Kurds in his first directly political sermon since early last year.

via CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza