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The upcoming September 25 referendum on independence, to be held by the Kurdish Regional Government, has spawned not only anti-Israeli, but also anti-American anger in Turkey. Elements of the ruling party in Turkey have staged anti-American protests, including one at the American airbase at Incirlik.
Iraq, which was artificially created in 1920, by the victorious European powers, is composed of a number of diverse ethnic and religious groups, and Kurdish territory was divided among several countries. Statements to the effect that the loss of Kurdistan will affect Iraqi territorial integrity and history are not supported by fact. Some officials in the Middle East are calling Kurdistan the "next Israel," as it is a movement by a specific ethnic group for independence, and could threaten the existence of a number of countries in the region, by oppressed ethnic groups
Israel is the only country that has supported Kurdish independence, drawing further Arab wrath, but the fact that the US, which is not a supporter, is being targeted by Turkey, does not bode well for American financial interests there, meaning that Country Risk on Turkey may have to be increased substantially, if the officially-sponsored anti-American demonstrations continue.
Turkey is also unhappy with the American criminal prosecution of the Iranian oil sanctions evader, Reza Zarrab, and the other defendants, and compliance officers who are charged with assessing Country Risk in the Middle East should be be watchful.
Chronicles of Monte Friesner - Financial Crime Analyst
