Iran has conducted multiple direct missile and drone strikes on Iraqi territory, especially US-linked sites and Iranian Kurdish opposition camps in the Kurdistan Region, since the US-Israel conflict with Iran escalated in February 2026. These actions form part of broader retaliatory operations tied to strikes on Iranian targets and efforts to pressure remaining US presence. The complete US troop withdrawal from Iraq by September 30 removed a key external constraint, while Baghdad pursues militia disarmament deadlines and security coordination with Tehran amid ongoing border tensions and economic pressures from Strait of Hormuz disruptions. Upcoming factors include any further Iranian retaliation, Iraqi government enforcement of state control over armed groups, and diplomatic proposals for de-escalation. Trader assessments reflect these verified military and political developments in the active conflict.