ERBIL, Kurdistan Region of Iraq - Speaking at a high-level US-Iraq business summit on Friday, US Special Envoy for Iraq Tom Barrack said that Iraqi Prime Minister Ali al-Zaidi's regional economic vision will render the Strait of Hormuz "an afterthought in two years" and pave the way for energy security in the Middle East.

Barrack, who offered a speech introducing Zaidi ahead of his address to the forum, organized by the US Chamber of Commerce, in Washington, urged attendees to invest in Iraq and offered glowing praise for the Iraqi premier as offering an alternative to current "chaos" arising from the war with Iran.

"What's happened is a brilliant realignment of security and strategic alliances in the region - Iraq being at the forefront of a new, strategic security alliance," Barrack said, asserting that US military action in the Middle East has historically failed to serve the country's interests.

"We've had 23 regime changes in this region since World War I - not one has worked," Barrack continued, citing Washington's need to find "athletes" in the Middle East such as Zaidi who can drive economic and social change.

"What this young leader has in mind, aligned with Syria, Jordan, Turkey, Lebanon, Egypt, is a program that will make the Strait of Hormuz an afterthought in two years."

Zaidi arrived in the US on Monday for a week-long visit that saw him meet US President Donald Trump in the White House, in addition to conducting talks with myriad US companies in a bid to bolster Iraq's economy with foreign direct investment.

Since assuming power after a drawn-out selection process by Iraq's ruling Coordination Framework, Zaidi has earned kudos in Washington for his efforts to clamp down on pro-Iran militias in the country, a sweeping anti-corruption drive, and an openness to cooperation in the energy sector, coming at a time when Iranian restrictions on the Strait of Hormuz have hampered global oil flows.

On June 14, Trump let slip that the US would run out of oil reserves "in four weeks" should the strategic waterway not be reopened and that "bedlam" would ensue. After the US-Iran peace deal faltered and gave way to renewed hostilities, the strategic imperative for Washington to avail of Iraq and Syria to pursue overland pipelines as alternative export routes proves all the more salient.

In an interview with Sky News aired on June 27, Zaidi said that he has directed Iraq's oil, electricity, and communications ministries “to give priority” to American companies in the fields of energy, communications, and technology.

"What [the Middle East] responds to is strong leaders that have clarity, that have transparency, that have power that produces prosperity," Barrack stressed.

Having played a fundamental role in shaping US-Syria relations following the rise of Ahmed al-Sharaa to power in Damascus in late 2024, Barrack assumed the title of special envoy for Iraq in May, during which period he has worked closely with the new government on economic and security issues.

For his part, Zaidi "reaffirmed his commitment to presenting the significant investment and economic cooperation opportunities now available in Iraq across a wide range of sectors" to attendees at the summit, according to the premier's office.

"Following the Prime Minister’s remarks, a number of leading representatives of US companies spoke of their aspiration to establish effective partnerships with Iraq in light of the government’s business-friendly economic approach," the statement concluded.

Striking the balance of US and Iranian desires has long proved challenging for Iraqi leaders, with both external powers maintaining extensive influence in the country. 

An advisor to the Iranian supreme leader on Friday called the US visit a "blow" to the dignity of the Iraqi people, coming amid the US-Israeli war on Iran and the recent funeral proceedings held for the late Iranian Supreme Leader Ayatollah Ali Khamenei within Iraq itself.

The Islamic Resistance in Iraq, a collection of pro-Iran militias, earlier censured the trip as unacceptable given the "heinous crimes" perpetrated by the Trump administration in the region.