Hormuz crisis spurs $24B Iraq trade corridor as Gulf routes shift
Rising Strait of Hormuz tensions fuel Iraq's $24 billion Development Road and other alternative Gulf-to-Europe trade routes, analyst says now.
Last updated: 2026-04-29 21:09:25 ET
Rising Strait of Hormuz tensions fuel Iraq's $24 billion Development Road and other alternative Gulf-to-Europe trade routes, analyst says now.
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The Lufthansa Group said the cancellation of less profitable routes would save the equivalent of approximately 40,000 metric tons of jet fuel.
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