The cost of Iran’s regional leverage

For over two years, the 2023 Beijing-brokered agreement between Saudi Arabia and Iran marked a shift in Gulf politics, but recent Iranian attacks on Saudi Arabia have strained this dynamic. On September 8, 2026, the Houthis launched drone and ballistic missile attacks against several Saudi cities, escalating the conflict in Yemen. These events highlight a contradiction in Tehran's regional strategy: can it maintain stable diplomatic relations with its Gulf neighbors while exerting strategic pressure on their security?