The following story, from STRATFOR, suggests that Kurdistan has become a virtually independent country. I guess the real test will come when we see how this all plays out:
Iraq’s government will cut off oil exports to South Korean energy firm SK Energy if the company does not exit an oil deal with the Kurdistan Regional Government by Jan. 31. Intent on keeping Iraqi Kurdistan in check, Baghdad has created fears of similar moves against other countries with firms doing oil deals with the Kurds. Though many of the small- and medium-sized firms involved in exploration contracts in northern Iraq are unlikely to be affected, the few involved in both transport and exploration are at greater risk. These firms must reconsider investments in Iraqi Kurdistan, will all eyes on South Korea’s next move.