Since the signing of the Abraham Accords in 2020, acceleration of the process of normalizing relations between some Arab countries and Israel has led to a transformation in the security architecture of the Middle East. This study examines the consequences of this process on the future of Iraq's regional security. Israel has become an official player in the regional security arrangements, and its intelligence, military, and economic cooperation with Arab governments is expanding; a development that confronts Iraq with conflicting challenges. On the one hand, external pressures to align with the Arab-Israeli axis have increased, and on the other hand, internal opposition from some political and social currents to any rapprochement with Israel remains strong. The study analyzes structural and identity dimensions of these developments by simultaneously utilizing theoretical framework of "regional security complexes" and "constructivism" approach. The research method is qualitative content analysis, and the research data includes 103 official documents, think tank reports, scientific articles, and media content. The research findings reveal three main axes: the shifting balance and overlap of Arab-Israeli security arrangements with an increased risk of contagion of Iran-Israeli conflicts, the duality of identity and domestic legitimacy in the confrontation between state imperatives and social resistance, and political economy pressures in the areas of energy, trade, and infrastructure. Accordingly, three possible scenarios for the future of Iraq’s regional security are outlined: gradual alignment, active balancing, and open resistance. Research suggests “balancing” would be the most optimal path to reducing security costs and domestic legitimacy.