Iraq's Basra Corridor aims to rewrite Gulf trade amid Hormuz tensions
Amid Strait of Hormuz tensions, Iraq’s $24 billion Development Road is gaining momentum, with Basra emerging as a key overland transit hub that could reduce Tehran’s leverage and link the Gulf with Turkey and Europe; Phase 1 began in 2025 and is targeted for 2028 completion, signaling a potential shift in regional trade and energy logistics alongside parallel Gulf infrastructure projects.