Riyadh faces a dilemma: how to deter attacks and protect the ambitious economic vision it is pursuing without becoming entangled in a broader conflict in the region.

Riyadh must decide whether its new alliances will strengthen regional stability or give greater influence to governments seeking to turn Israel into the common enemy.

Observers suggest the new alliance between Saudi Arabia, Turkey and Pakistan won't result in any of the countries fighting for each other. Instead it's about preventing Iran and…