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Iraq announces financial sanctions as Kurdistan sets parliamentary election date to consolidate power

Iraq’s central bank told the Kurdish Region Government that it would no longer sell dollars to four of Kurdistan’s leading banks and stop all foreign currency transfers on Tuesday.

The announcement came as the KRG announced it will be holding presidential and parliamentary elections on November 1, a move that to consolidate its power in the Kurdistan region following the results of the independence referendum.

Earlier in the day Iraq’s federal parliament threatened to exclude Kurdish members who took part in the referendum on the basis that it was unconstitutional, reports Reuters.

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