On March 10, 2023, Saudi Arabia and Iran announced that they had signed an agreement to resume their diplomatic relations. This agreement was concluded under the aegis of China – a resounding event that is bound to trigger a variety of political and economic upheavals in a strategic region that holds 40% of the world’s fossil fuel reserves. It also points to a transformation of the international system, with regional players increasing their autonomy and China playing a growing role on the international political stage. What assessments can be made about this new rapprochement between the region’s “two best enemies”? What does this situation say about Beijing’s evolving regional and international expectations? The present study shows that this tripartite agreement is of major importance to a variety of players in the region. Thus, it has been well received on an international level. This agreement is also the manifestation of the three protagonists’ shared economic interests. It points to a significant change in the political and strategic regional order.