Levant in April 2026: the most important developments in economy
In April 2026, the economy of the Levant was shaped by shipping through the Strait of Hormuz and by new transport and trade links between Syria, Turkey, Jordan and Iraq. On 8 and 9 April Iran halted oil tanker traffic through the strait, according to Iranian media, in response to Israeli strikes on Lebanon, and Oman and Iran were reported to be disputing tolls for passage. On 17 April an Israel-Lebanon ceasefire took effect and Iran announced it would reopen the strait during the truce. Crude oil prices were lower on the news. Lebanon held positive talks with the International Monetary Fund about billions of dollars in war damage.
Regional connections expanded. Syria, Jordan and Turkey signed a trilateral transport and trade corridor deal, and on 20 April the three announced a new railway corridor to link the Gulf region to Europe. A Saudi minister said studies for a rail link to Turkey through Jordan and Syria would be completed soon. Turkey restored a railway corridor along the Syrian border. Iraq reopened the Rabia border crossing with Syria on 20 April after more than a decade of closure. Syria signed a gas production deal with a Saudi company, and Syria and Turkey neared a correspondent bank account deal and considered a currency swap. Jordan bought 60,000 tonnes of wheat in an international tender, and Jordan and Egypt cooperated to stabilise the fertiliser market.
by WorldBrief & Maksim Micheliov | AI-generated summary
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