Kurdistan Showdown

The United Kalavrvta has been cleared by the Coast Guard to begin offloading 1 million barrels of Kurdish oil in Galveston. As it threatened to do, Iraq has filed suit asking US Marshalls to seize the oil.

As I mentioned in a previous post, Kurdistan took one step closer to independence while Baghdad was reeling from ISIS victories on the battlefield, by signing a separate¬†export agreement with Turkey, a NATO member, despite Baghdad’s assertion of sovereignty over all of Iraq.

It seems likely Baghdad will prevail in court. If so, and the oil is seized, the regional government of Kurdistan, now desperately short of cash, will have its back against the wall. You have to wonder what their Plan B is.

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