The US-Iran agreement is far more than an understanding to end a months-long war that thrust the Strait of Hormuz back to the forefront of global concern. It marks a pivotal moment—one that forces a re-examination of the Middle East’s political, security, and economic landscape and raises questions that extend well beyond the battlefield.

What is at stake is not simply whether the war has ended, but whether the region is on the cusp of a new regional order. Will the deal and potential new security order pave the way for better regional relations with Iran or revive old tensions and conflicts?