Kurdistan Regional Government

Arbil offers joint administration of borders with Baghdad as Iran re-opens borders

Kurdistan Regional Government (KRG) in northern Iraq has rejected handing over the border management to the Iraqi federal administration, saying that the law instead provides for joint administration, as Iran re-opened its crossings with the semi-autonomous region.

Oil prices rising as Iraqi forces advance on Kurdish-held territory

Global crude prices have hit a three-week high as the conflict between Iraqi and Kurdish forces intensifies. Iraqi troops are advancing on the city of Kirkuk, reportedly seizing the region's oil fields.

West Texas Intermediate crude rose 1.6 percent to $52.29 per barrel, setting it on track for its highest settlement price since the end of September, according to FactSet data.

Iraq Central Bank Eases Financial Restrictions on Kurdistan Region

Iraq's central bank on Wednesday eased financial restrictions imposed on the Kurdistan region over its independence vote after receiving a pledge of cooperation from Kurdish banks, an Iraqi banking source said.

All but four Kurdish-owned banks were allowed to resume dollar and foreign currency transfers on Wednesday, the source told Reuters.

US Does Not Recognize Kurdistan Independence Referendum

US Secretary of State Rex Tillerson said in a statement on Friday that the United States Government does not recognize the referendum for independence held earlier in the week by the Kurdistan Regional Government.

He also urged all groups with a stake in referendum on Iraqi Kurdistan's independence to reject the use of force.

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