Saudi Arabia takes the lead in promoting the Mecca Agreement and considering introducing Iran

Saudi Arabia, Türkiye and Pakistan promote the Mecca agreement and consider inviting Iran to join. The agreement envisages the establishment of a collective security mechanism for member states. If Iran joins, the mechanism will bring Saudi Arabia, Türkiye, Pakistan and Iran into the same security framework. Middle Eastern countries are seeking to reduce their dependence on US security guarantees, and if Gulf countries establish a diversified security and financial cooperation system, their willingness to settle oil and allocate US dollar assets in US dollars will be affected.