East-Europe Economic Corridor could threaten Iran, experts say
Saudi Arabian Crown Prince Mohammed bin Salman Al Saud, Indian Prime Minister Narendra Modi and U.S. President Joe Biden attend Partnership for Global Infrastructure and Investment event on the day of the G20 summit in New Delhi, India, September 9, 2023. (photo credit: EVELYN HOCKSTEIN/POOL/REUTERS) Iran’s ruling elite is showing growing concern over the rapid progress of the India-Middle East-Europe Economic Corridor (IMEC) project, according to sources familiar with the matter. The IMEC project would provide a stable trade route that bypasses the Strait of Hormuz , creating an alternative for global trade and energy transmission. The ambitious plan, first launched in September 2023, has moved ahead more strongly in recent months. A major push for the initiative came after the closure of the Strait of Hormuz and the broad global understanding that there is an urgent and critical need to create alternative trade routes that are safer and more resilient for the gl...