The Memorandum of Understanding (MoU) signed by the United States and Iran on 17 June could reshape the economic landscape of the Gulf by opening the door to renewed trade and investment with Iran.
Central to the agreement is a commitment to ease longstanding sanctions and integrate Tehran more deeply into regional economic networks.
The framework calls for the lifting of primary and secondary US sanctions on Iran and the establishment of a $300bn fund, backed by Washington and regional partners, to support the country's reconstruction and development.
For Gulf states that have long viewed Iran as both a neighbour and a commercial opportunity, the agreement could mark a significant turning point.
Qatar has already begun framing sanctions relief in commercial terms.
