Saudi-Iran Peace Deal: History, Factors Responsible and the Changing Dynamics of West Asia

Abstract

The study aims to find the reasons for the announcement of the peace deal on the 10th of March 2023 between Saudi Arabia and Iran. It traces the history of the two nations to understand their rivalry by analysing the existing literature. The development was quite unanticipated as the two nations have been bitter rivals for decades and the deal too was mediated by China, a new entrant in the region. The two rivals have fought economically, militarily, and ideologically, making the resource-rich region prone to continued violence. These occurrences have received scholarly attention as they have repercussions for the entire world since the deal has the potential to drive the region of West Asia toward stability. The study collects numerical and non-numerical data, analysing and applying economic concepts and political phenomena to understand the changing dynamics of the region. The major findings reflect that the region of West Asia is witnessing a new sense of reawakening and the states are putting aside their old differences. The Iranian state is intact and is not weakening due to protests and Western sanctions as Iran has been facing and dealing with them for long. The statement of the deal itself indicates that it has been agreed upon by two sovereign states with the goodwill of China.