Iraqi Kurdish journalist Mohammed A. Salih explores the impact of low oil prices on Iraqi Kurdistan. Deepening economic and financial crises in Iraq’s Kurdish region are likely to impose limitations on the semi-autonomous region’s quest for statehood. However, this does not suggest that a rapprochement between the Kurds and federal authorities in Baghdad is imminent. If unaddressed, a prolonged state of economic crisis and budget deficits will also add more strain on the ability of the Kurdistan Regional Government (K.R.G.) to finance the costly war against the Islamic State, otherwise known as ISIS, which could potentially affect morale within Kurdish peshmerga ranks.