Amid growing tensions in the Middle East, a significant geopolitical development has taken place with the signing of the “Mecca Joint Deterrence Agreement” between Saudi Arabia, Pakistan, and Turkey, whereby a strike against any of these countries will be considered a collective strike against them. The historic alliance comes in conjunction with sanctions placed by the United States on UAE-based cryptocurrency and currency exchanges to launder money from Iran, along with diplomatic efforts being made by Tehran to reach an agreement with Oman on the Strait of Hormuz.