At a time of high geo-political tensions, the Kingdom of Saudi Arabia can play a calming role as it mediates between the U.S., Israel, and Iran. It is enabled by its own diplomacy, moving to strengthen ties with Iran, with the Gulf nations slowly coalescing on issues. For the first time, it is being done without the U.S. as interlocutor.

Israeli Prime Minister Benjamin Netanyahu has secured his political survival since October 7 by managing his key constituencies – domestic and in the U.S. – and doubling down on his war strategy. Now he is making another calculated risk – to ensure a non-nuclear Iran, and thereby his continued political positioning.